New York, August 21, 2014 -- Moody's Investors Service, at the request of the Metropolitan Transportation Authority (MTA) has reviewed the documents that relate to the remarketing of its Transportation Revenue Bonds, $42.6 million Subseries 2002G-1f and $84.5 million Subseries 2012G-1 (Floating Rate Tender Notes). Both subseries are currently floating rate notes (FRNs) and will be remarketed as FRNs following a mandatory tender on September 10, 2014. The notes will bear interest in the term rate mode at a variable rate equal to 67% of one-month LIBOR plus a to-be-determined percentage. The FRNs will reset on the first of every month, and the initial term will end after three to five years as determined for each subseries. The remarketing, in and of itself and as of this time, will not have an adverse effect on the long term credit quality of the bonds, currently rated A2 with a stable outlook, and therefore will not result in reduction or withdrawal of Moody's ratings. Moody's does not express an opinion as to whether the remarketing could have other, non credit-related effects.

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