KBRA assigns an AA+ rating and stable outlook to TBTA’s PMT Senior Lien Repayment Green Bonds, Subseries 2022D-1a and 2022D-1b and Senior Green Bonds, Subseries 2022D-2

NEW YORK–(BUSINESS WIRE)–KBRA assigns a long-term AA+ rating to the Triborough Bridge and Tunnel Authority (TBTA) Payroll Mobility Tax (PMT) Senior Lien Green Bonds, Series 2022D (Climate Bond Certified), which consists of:

  • Payroll Mobility Tax Senior Privilege Refunding Green Bonds, Subseries 2022D-1a (Climate Bond Certified)

  • Payroll Mobility Tax Senior Privilege Refunding Green Bonds, Subseries 2022D-1b (Capital Appreciation Bonds – Climate Bond Certified)

  • Payroll Mobility Tax Senior Preferred Green Bond Subseries 2022D-2 (Climate Bond Certified)

The outlook for all of the above bonds is stable.

At the same time, KBRA confirms the AA+ long-term rating, with a stable outlook, on the outstanding Senior Lien PMT bonds issued by TBTA and the K1+ short-term rating on the outstanding PMT Bond Anticipation Notes (BAN) bonds issued by the TBTA and Metropolitan Transportation Authority (MTA).

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Disclosures

Further information on key credit considerations, sensitivity analyzes that consider factors that may affect these credit ratings and how they could lead to an upgrade or downgrade, and ESG factors (where they are a key factor in changing the credit rating or rating outlook) can be viewed in the full rating report mentioned above.

A description of all substantially significant sources that were used to prepare the credit rating and information on the methodology(ies) (including all significant models and sensitivity analyzes of key relevant rating assumptions, if any) used to determine credit rating are available in the Information Disclosure Form(s) located here.

Information on the meaning of each rating category can be found here.

Only ratings on securities issued by this issuer that are also listed in the security ratings tab for this issuer on KBRA.com as “approved” by Kroll Bond Rating Agency Europe Limited in the European Union and/or by Kroll Bond Rating Agency UK Limited in the United Kingdom are covered by the disclosures set out in this press release and the relevant information disclosure form. No other ratings on issues of this issuer have been approved in the European Union or the United Kingdom, and the information set out herein and in the relevant Disclosure Form is inapplicable to such ratings and cannot not be used for regulatory purposes by the European Union or the United Kingdom. investors in these securities.

Additional information relating to this rating metric is available in the information disclosure form(s) referenced above. Additional information regarding KBRA’s policies, methodologies, grading scales and disclosures is available at www.kbra.com.

About KBRA

Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the United States Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a rating agency with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a rating agency with the UK Financial Conduct Authority under the temporary registration scheme. Additionally, KBRA is designated as the Designated Rating Agency by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a credit rating provider.

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