Bond calls/redemption notices/defeasance
Transportation Revenue Refunding Bonds, Series 2012F
Notice of Redemption of for the 2023 Maturity (CUSIP 59259YTS8), on November 15, 2022
Transportation Revenue Variable Rate Refunding Bonds, Subseries 2020B-2
Notice of Partial Redemption ($14.34 million) of TRB 2020B-2 (CUSIP 59261AN37), on September 20, 2022
Transportation Revenue Bonds, Subseries 2012B, 2012C, 2012E, 2012F, and 2012H
Notice of Defeasance and Designation of Certain Bonds for Prior Redemption on September 15, 2022
Transportation Revenue Bonds, Subseries 2002D-1, 2012C, 2012D, 2012F, and 2012H
Notice of Defeasance and Designation of Certain Bonds for Prior Redemption on August 18, 2022
Transportation Revenue Refunding Bonds, Subseries 2020B-2
Notice of Partial Redemption ($5 million) of TRB 2020B-2 (CUSIP 59261AF85), on March 24, 2022
Dedicated Tax Fund Bond Anticipation Notes (BANs), Series 2019A
Notice of Defeasance of DTF BANs Series 2019A (CUSIP 59260XAA6), on February 10, 2022.
Transportation Revenue Bond Anticipation Notes (BANs), Series 2020B
Notice of Redemption of TR BANs Series 2020B (CUSIP 59261AG92), on March 1, 2022. These 2020B BANs had been placed with the federal Municipal Liquidity Facility (MLF).
Grant Anticipation Notes (GANs), Series 2021A
Notice of Redemption of GANs Series 2021A (CUSIP 59261AM79) on February 10, 2022
Letter of Credit (LOC) Substitutions
Mandatory Tender Notices
TRB Subseries 2018A-2
Notice of Mandatory Tender (CUSIP 59261AVF1) on November 15, 2022
TRB Subseries 2014D-2
Notice of Mandatory Tender (CUSIP 59261ANT0) on November 15, 2022
TRB Series 2011B
Notice of Mandatory Tender (CUSIP 59261ANM5) on November 1, 2022
TRB Subseries 2005D-2
Notice of Mandatory Tender (CUSIP 59259YAE9) on November 1, 2022
TRB Subseries 2012G-4
Notice of Mandatory Tender and Mode Change (CUSIP 59261ANN3) on November 1, 2022
DTF Subseries 2008A-2a
Notice of Mandatory Tender and Mode Change (CUSIP 59259N8P1) on June 1, 2022
TRB Subseries 2020B-2
Notice of Mandatory Tender and Mode Change (CUSIP 59261AF85) on March 24, 2022
TRB Subseries 2002G-1h
Notice of Mandatory Tender (CUSIP 59261AKF3) on February 1, 2022
TRB Subseries 2012A-3
Notice of Mandatory Tender (CUSIP 59261AYK7) on February 1, 2022
TBTA Subseries 2003B-1
Notice of Mandatory Tender (CUSIP 89620RDR3) on January 19, 2022
On October 31, 2022, KBRA revised the outlook on Transportation Revenue Bonds (AA) from negative to Stable, while affirming the AA rating. See press release and report.
On July 20, 2022, S&P Global ratings withdrew its VRDB joint (enhanced) ratings on TRB Subseries 2005D-2 (CUSIP 59259YAE9) as a result of Helaba requesting a withdrawal of its long-term and short-term ratings on July 1, 2022. See notice.
On March 28, 2022, S&P Global Ratings upgraded its short-term ratings on MTA's enhanced TRB VRDB Subseries 2005D-2 (CUSIP 59259YAE9) to 'A-1'as result of its upgrade of the Subseries 2005D-2 Letter of Credit Provider - Landesbank Hessen-Thueringen Girozentrale (Helaba) on March 22, 2022. The long-term enhanced ratings on the TRB Subseries 2005D-2 were affirmed. See the S&P press release.
On March 18, 2022, Moody's upgraded Assured Guaranty (AGM) to A1, which upgraded the Insured Ratings to A1 on certain Transportation Revenue Bonds (TRB) that are insured by AGM. The TRB Subseries affected are 2002D-1, 2002D-2a-1, 2002D-2a-2, 2002D-2b, 2003A, 2006B, 2012E, 2019A-2, 2019A-3, 2019B, 2019C, 2019D-2, and 2020A-1. For more information see the Moody's report.
On August 2, 2022, MTA entered into new $800 million and $400 million revolving credit agreements with JP Morgan Chase Bank, National Association and Bank of America, National Association, respectively. These agreements replace the existing agreements with JP Morgan (dated August 24, 2017, as amended) and Bank of America (dated August 16, 2019, as amended), which were for the same amounts and terminated pursuant to their terms. The new agreements are active until August 1, 2025. For additional information regarding these lines of credits see the Investor website Lines of Credit page.
On April 11, 2022, MTA prepaid the outstanding $378.5 million on the 2021E RAN, with JP Morgan. Read more.
On March 31, 2022 and April 1, 2022, MTA prepaid the outstanding $95.3 million on the 2021C RAN and $2.5 million on the 2021D RAN, both with Bank of America, respectively. Read more.
On March 21, 2022 and March 24, 2022, MTA prepaid the outstanding $300 million on the 2021A RAN (with Bank of America) and $420 million on the 2021B RAN (with JP Morgan), respectively. Read more.