June 17, 2014 / 7:05 PM / in 4 years

S&P raises New York MTA's issuer credit rating

June 17 (Reuters) - Standard & Poor’s raised its issuer credit rating on New York Metropolitan Transportation Authority (MTA) to “AA-” from “A+”, citing the MTA’s strong enterprise risk score.

The ratings agency also raised the MTA's transportation revenue bonds to "AA-" from "A+" and said its outlook on the bonds was stable. (r.reuters.com/fex22w)

“The raised rating reflects our view of the MTA’s enterprise risk score that we view as extremely strong, and the authority’s financial risk score that we view as strong,” S&P analyst Joseph Pezzimenti said.

The agency also upgraded its rating on MTA’s stand-alone credit profile to “aa-” from “a+”. (Reporting By Tanvi Mehta in Bangalore; Editing by Savio D‘Souza)

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