KBRA Releases Rating Report for the MTA Transportation Authority Transportation Revenue Bond Anticipation Notes Series 2018B

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On June 13, 2018, Kroll Bond Rating Agency (KBRA) assigned a short-term rating of K1+ to the Metropolitan Transportation Authority (MTA) Transportation Revenue Bond Anticipation Notes (BANs) Series 2018B consisting of Subseries 2018B-1 and 2018B-2. The two Subseries are scheduled to mature on May 15, 2020 and May 15, 2021, respectively.

Concurrently, KBRA affirmed the long-term rating of AA+ with a Stable Outlook on the MTA Transportation Revenue Bonds and short-term rating of K1+ on the MTA’s Transportation Revenue BANs Series 2017C and 2018A.


Issuer: Metropolitan Transportation Authority (MTA)

Series/Bond       Rating     Outlook     Action
Transportation Revenue BANs, Series 2018B

Subseries 2018B-1 (maturing 5/15/2020)

      K1+     ---     Assigned
Transportation Revenue BANs, Series 2018B

Subseries 2018B-2 (maturing 5/15/2021)

      K1+     ---     Assigned
Transportation Revenue Bonds       AA+     Stable     Affirmed
Transportation Revenue BANs, Series 2017C

(partially maturing 2/15/2019 & 5/15/2019)

      K1+     ---     Affirmed
Transportation Revenue BANs, Series 2018A

(maturing 8/15/2019)

      K1+     ---     Affirmed
KBRA’s long-term ratings do not apply to bonds backed by a letter of credit or liquidity facility, unless otherwise noted.

KBRA’s long-term rating for the MTA is based on the U.S. Public Toll Roads, Bridges, & Tunnels Rating Methodology. KBRA’s Rating Determinant ratings are summarized below:

  • Size and Scope of Operations: AAA
  • Demand Assessment: AA+
  • Regulatory/Management Framework: AA+
  • Financial Profile: AA
  • Security Provisions: AA-

To view the report, click here.


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About KBRA and KBRA Europe

KBRA is a full service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.

More news and information about Kroll Bond Rating Agency

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Business Wire: 23:02 GMT Thursday 14th June 2018

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