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MTA Press Releases

Press Release
May 2, 2003
Statement By The MTA Regarding "A" Bond Rating

The Metropolitan Transportation Authority is gratified by Standard & Poor's reaffirmation of MTA's "A" bond rating.

In its statement Standard & Poor's, a recognized and independent bond rating agency noted, "the rating is based on improving operations and ridership trends."

Specifically, Standard & Poor's cited MTA's "strong management track record of maintaining fiscally prudent operations while continuing to invest and upgrade the transit and commuter system."

The rating agency further advised investors that based on its review the outlook for the MTA is "stable."

MTA Chairman, Peter S. Kalikow said, "Our strong "A" rating by Standard & Poor's is a repudiation of the political rhetoric of the State Comptroller." Kalikow added, "We are pleased that Standard & Poor's has concluded what we have been saying for some time, that the MTA is a strong and fiscally prudent operation."