OREANDA-NEWS. S&P Global Ratings assigned its 'AA-' long-term rating to the Metropolitan Transportation Authority (MTA), N. Y.'s $600 million series 2016D refunding transportation revenue bonds (TRBs).

In addition, S&P Global Ratings affirmed the following ratings:'AA-' issuer credit rating (ICR) and 'aa-' stand-alone credit profile (SACP) on the MTA;'AA-' long-term rating and underlying rating (SPUR) on the MTA's previously issued TRBs;'SP-1+' short-term rating on the MTA's previously issued transportation revenue bond anticipation notes (BANs); and'AAA/A-1+', 'AA+/A-1', and 'AA/A-2' dual ratings on the MTA's various other TRBs outstanding, reflecting the application of our joint criteria assuming low correlation. The outlook, where applicable, is stable.

The series 2016D bond proceeds will be used to current refund the MTA's previously issued series 2006A and 2006B TRBs.

"The ratings reflect our view of such factors as the MTA's very low industry risk, extremely strong economic fundamentals, extremely strong market position, and very strong management and governance policies," said S&P Global Ratings credit analyst Paul Dyson.

The stable outlook on the SPUR reflects our anticipation that the MTA will maintain an extremely strong enterprise risk profile and strong financial risk profile.