S&P rates Triborough Bridge bonds AA-, A+

Standard & Poor's said it assigned an AA- rating to the $650 million series 2008C general revenue bonds issued by the Triborough Bridge and Tunnel Authority, N.Y., and an A+ rating to the $350 million series 2008D subordinate revenue bonds.

The series 2008C bond proceeds will refund the authority's commercial paper, which is necessary as a result of market volatility.

S&P affirmed its AA- rating on the authority's $5.8 billion senior-lien revenue bonds outstanding and its A+ rating on the authority's $2.1 billion outstanding subordinate-lien revenue bonds. The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.