On January 24, 2019, Kroll Bond Rating Agency (KBRA) assigned a Long-Term rating of AA+ with a Negative Outlook to the Metropolitan Transportation Authority Transportation Revenue Green Bonds, Series 2019A (Climate Bond Certified) consisting of Subseries 2019A-1, 2019A-2, and 2019A-3. KBRA also assigned a Short-Term rating of K1+ to the MTA’s Transportation Revenue Bond Anticipation Notes, Series 2019A.

Concurrently, KBRA affirmed the Long-Term Rating of AA+ on the MTA’s outstanding Transportation Revenue Bonds and revises the Outlook to Negative. Additionally, KBRA affirmed the Short-Term Rating of K1+ on the MTA’s outstanding Transportation Revenue Bond Anticipation Notes.

 
Issuer: Metropolitan Transportation Authority (MTA)
Assigned   Rating(s)   Outlook
Transportation Revenue Green Bonds, Series 2019A (Climate Bond Certified) Subseries 2019A-1   AA+   Negative
Transportation Revenue Green Bonds, Series 2019A (Climate Bond Certified) Subseries 2019A-2   AA+   Negative
Transportation Revenue Green Bonds, Series 2019A (Climate Bond Certified) Subseries 2019A-3   AA+   Negative

Transportation Revenue Bond Anticipation Notes, Series 2019A (maturing 2/3/2020)

  K1+   n/a
         
Affirmed   Rating(s)   Outlook
Transportation Revenue Bonds   AA+   Negative
Transportation Revenue Bond Anticipation Notes, Series 2017C (partially maturing 2/15/2019 & 5/15/2019)   K1+   n/a
Transportation Revenue Bond Anticipation Notes, Series 2018A (maturing 8/15/2019)   K1+   n/a
Transportation Revenue Bond Anticipation Notes, Series 2018B Subseries 2018B-1 (maturing 5/15/2020)   K1+   n/a
Transportation Revenue Bond Anticipation Notes, Series 2018B Subseries 2018B-2 (maturing 5/15/2021)   K1+   n/a
Transportation Revenue Bond Anticipation Notes, Series 2018C-1 (maturing 9/1/2020)   K1+   n/a

Transportation Revenue Bond Anticipation Notes, Series 2018C-2 (maturing 9/1/2021)

  K1+   n/a
   

The rating actions are based on KBRA’s U.S. Public Toll Roads, Bridges, and Tunnels Rating Methodology.

To access 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 designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus, is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider, and is 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.