2025 investor information archive

This archive contains information provided for historical purposes only. Each document contained in this portion of the MTA website is marked with a dated date, and speaks only as of that dated date. Readers are cautioned not to assume that any information has been updated beyond the dated date unless a document expressly states that it constitutes an update of a specific portion of a document. MTA, its affiliates and subsidiaries expressly disclaim any duty to provide an update of any document contained in this section.

Official Statements and Remarketing Circulars

Transportation Revenue Bonds

Series 2025B (Climate Bond Certified), Official Statement
Transportation Revenue Refunding Green Bonds, dated September 17, 2025

Series 2025A (Climate Bond Certified), Official Statement
Transportation Revenue Refunding Green Bonds, dated March 19, 2025

Payroll Mobility Tax Senior Lien Obligations

BAN Series 2025B, Offering Memorandum
TBTA (MTA Bridges and Tunnels) Payroll Mobility Tax Bond Anticipation Notes, dated April 2, 2025

BAN Series 2025A, Offering Memorandum
TBTA (MTA Bridges and Tunnels) Payroll Mobility Tax Bond Anticipation Notes, dated March 11, 2025

Dedicated Tax Fund Bonds

Subseries 2008A-2b Remarketing Circular
Dedicated Tax Fund Variable Rate Refunding Bonds, Subseries 2008A-2b, dated September 23, 2025

Sales Tax Revenue Bonds (TBTA Capital Lockbox - City Sales Tax)

None at this time.

Real Estate Transfer Tax Revenue Bonds (TBTA Capital Lockbox Fund)

Series 2025A, Official Statement
TBTA (MTA Bridges and Tunnels) Real Estate Transfer Tax Revenue Bonds (TBTA Capital Lockbox Fund), dated January 17, 2025

Triborough Bridge and Tunnel Authority General Revenue Bonds (Senior Lien)

Series 2018E, Remarketing Circular
TBTA (MTA Bridges and Tunnels) General Revenue Variable Rate Refunding Bonds, Series 2018E (Federally Taxable), dated November 14, 2025

Series 2025A, Official Statement
TBTA (MTA Bridge and Tunnels) General Revenue Bonds, Subseries 2025A-1 & General Revenue Refunding Bonds, Subseries 2025A-2.

Triborough Bridge and Tunnel Authority Subordinate Revenue Bonds

Series 2025A, Offering Memorandum
TBTA (MTA Bridges and Tunnels) Subordinate Revenue Bond Anticipation Notes, dated February 4, 2025.

Triborough Bridge and Tunnel Authority Second Subordinate Lien (CBDTP)

BAN Series 2025A, Offering Memorandum
TBTA (MTA Bridges and Tunnels) Second Subordinate Revenue Bond Anticipation Notes, dated October 21, 2025

Disclosure Filings and Financial Reports

Annual Combined Continuing Disclosure Filings (CCDF)

Part I, MTA Annual Disclosure Statement (ADS)
Dated April 29, 2025, as supplemented on July 11, 2025

Part II, Detailed List of All Debt Outstanding
As of April 29, 2025

Appendix A
Redirect to Part I – MTA Annual Disclosure Statement

Appendix B
Audited Consolidated Financial Statements of Metropolitan Transportation Authority for the Years Ended December 31, 2024 and 2023

Appendix C
Audited Financial Statements of the New York City Transit Authority for the Years Ended December 31, 2024 and 2023

Appendix D
Audited Financial Statements of Triborough Bridge and Tunnel Authority for the Years Ended December 31, 2024 and 2023

Appendix E
History and Projection of Traffic, Toll Revenues and Expenses and Review of Physical Conditions of the Facilities of Triborough Bridge and Tunnel Authority, dated April 29, 2025 prepared by Stantec Consulting Services – New York

Annual Compliance Certification in connection with Climate Bonds Initiative Annual Reporting
MTA’s Climate Bond Certified Green Bonds, as of April 30, 2025

Complete 2025 CCDF PDF with Parts I and II and Appendices

Material event notices and voluntary notices, current year

Bond calls/redemption notices/defeasance

TBTA Second Subordinate Revenue Bond Anticipation Notes, Series 2024A
Notice of Deposit of Funds into Escrow to Pay TBTA Second Subordinate Revenue BANs, Series 2024A in Full, dated October 29, 2025

Transportation Revenue Bonds, Series 2015B, Subseries 2015C-1, Subseries 2015D-1, Series 2015F
Notice of Defeasance for certain outstanding TRB Series 2015B, Subseries 2015C-1, Subseries 2015D-1, and 2015F, dated September 24, 2025

Payroll Mobility Tax Bonds, Subseries 2024B-3
Notice of Defeasance for PMT Subseries 2024B-3, dated September 24, 2025

Dedicated Tax Fund Bonds, Subseries 2008B-3c
Notice of Defeasance for DTF Subseries 2008B-3c, dated September 24, 2025

Transportation Revenue Bonds, Series 2010B-1 (Build America Bonds), 2010C-1 (Build America Bonds), 2010E (Build America Bonds)
Conditional Notice of Redemption for certain TRB series issued as Build America Bonds at Extraordinary Option Redemption Price, dated September 17, 2025

TBTA General Revenue Bonds, Subseries 2008B-3 & Series 2015B
Notice of Defeasance for TBTA Subseries 2008B-3 & TBTA Series 2015B bonds, dated August 20, 2025

TBTA General Revenue Bonds, Series 2015A
Conditional Notice of Redemption for certain TBTA Series 2015A bonds, dated July 18, 2025

Transportation Revenue Variable Rate Refunding Bonds, Series 2020B
Notice of Partial Redemption of TRB Series 2020B ($7.175 million on CUSIP 59261AX28), on June 4, 2025

Transportation Revenue Bonds, Series 2014C, 2015A-1, 2015B
Notice of Defeasance for certain outstanding TRB Series 2014C, 2015A-1, and 2015B, dated March 27, 2025

Transportation Revenue Variable Rate Bonds, Subseries 2012A-2
Notice of Redemption for TRB Subseries 2012A-2 (CUSIP 59261AZD2), dated March 27, 2025

Transportation Revenue Bonds, Series 2010E (Build America Bonds)
Conditional Notice of Redemption for certain TRB Series 2010E (Build America Bonds) at Extraordinary Optional Redemption Price, dated March 19, 2025

Transportation Revenue Variable Rate Refunding Bonds, Series 2020B
Notice of Partial Redemption of TRB Series 2020B ($7.22 million on CUSIP 59261AX28), on March 11, 2025

Letter of Credit (LOC) substitutions

Triborough Bridge and Tunnel Authority General Revenue Variable Rate Refunding Bonds, Series 2018E (Federally Taxable)
Notice of Substitution of Credit Facility for TBTA Series 2018E (89602RHU2), on November 20, 2025.

Dedicated Tax Fund Bonds Variable Rate Refunding Bonds Subseries 2008A-2b
Notice of Substitution of Credit Facility for DTF Subseries 2008A-2b (59260XAB4) on October 2, 2025.

Mandatory tender notices

None at this time.

Ratings actions

On October 2, 2025, Fitch upgraded the short-term rating of DTF 2008A-2b to F1+ from F1 and affirmed the long-term rating of AAA. The outlook remains stable.

On August 12, 2025, S&P upgraded the long-term rating on MTA Transportation Revenue Bonds to ‘A’ from ‘A-’ and revised the outlook to stable. Additionally, S&P upgraded long-term enhanced ratings on eleven subseries of Transportation Revenue Variable Rate Bonds, Subseries 2002G-1g, 2005D-2, 2005E-1, 2005E-2, 2012G-1, 2012G-2, 2012G-3, 2012G-4, 2015E-1, 2015E-3, 2020B, to ‘AA+’ from ‘AA’.

On June 13, 2025, Moody's upgraded the long term rating on MTA Transportation Revenue Bonds to A2 from A3 and revised the outlook to stable.

Financial obligations

On May 2, 2025, TBTA entered into a loan agreement for a 1-year term loan in the amount of $500 million. Repayment of the loan is secured by a lien on certain Central Business District Tolling Program revenues. For information, see the 2025 Loan Agreement.

On February 4, 2025, MTA executed a new taxable $300 million Revolving Credit Agreement with Wells Fargo Bank, National Association. For information see the 2025 Revolving Credit Agreement. Read additional information regarding the credit agreement.

On January 30, 2025, MTA executed a Second Amendment to an existing taxable Revolving Credit Agreement with JPMorgan Chase Bank, National Association. For information see the Second Amendment. Read additional information regarding the credit agreement.