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Bond calls/redemption notices/defeasance
Transportation Revenue Bonds, Series 2014C, Subseries 2014D-1 and Subseries 2019D-1
Notice of Defeasance, dated October 29, 2024
Transportation Revenue Bonds Green Bonds, Subseries 2019A-1
Notice of Defeasance, dated October 9, 2024
Payroll Mobility Tax Bond Anticipation Notes, Series 2022B
Notice of Escrow Deposit of Funds to Pay in Full for $766.54 million of PMT BANs Series 2022B, dated October 9, 2024
Transportation Revenue Variable Rate Refunding Bonds, Series 2020B
Notice of Partial Redemption of TRB Series 2020B ($7.175 million on CUSIP 59261AX28), on September 9, 2024
TBTA General Revenue Bonds, Series 2012A and 2014A
Notice of Defeasance, dated August 22, 2024
TBTA General Revenue Bonds Subseries 2010A-2 (Build America Bonds)
Conditional Notice of Redemption for certain TBTA Subseries 2010A-2 at Extraordinary Optional Redemption Price, dated August 16, 2024
Dedicated Tax Fund Bonds, Series 2009C, 2010A-2, 2016A, and Transportation Revenue Bonds, Subseries 2009A-1
Notice of Redemption for Certain DTF and TRB Bonds dated August 9, 2024
Payroll Mobility Tax Bond Anticipation Notes, Series 2022A
Notice of Escrow Deposit of Funds to Pay in Full for $425.685 million of PMT BANs Series 2022A (CUSIP 89602HHM2), dated July 23, 2024
Dedicated Tax Fund Bonds, Series 2009C (Build America Bonds) and Subseries 2010A-2 (Build America Bonds)
Conditional Notice of Partial Redemption for the Series 2009C and Subseries 2010A-2 at Extraordinary Optional Redemption Price, dated June 27, 2024
Dedicated Tax Fund Bonds, Series 2016A
Conditional Notice of Partial Redemption for Series 2016A at Make Whole Redemption Price, dated June 27, 2024
Transportation Revenue Bonds, Subseries 2009A-1 (Build America Bonds)
Conditional Notice of Redemption for the Subseries 2009A-1 at Extraordinary Optional Redemption Price, dated June 27, 2024
Transportation Revenue Bonds Series 2012C, 2013C, and 2013E
Notice of Defeasance and Prior Designation for Redemption for Certain Transportation Revenue Bonds, dated May 20, 2024
Payroll Mobility Tax Bond Anticipation Notes, Series 2022A
Notice of Partial Defeasance for $525.685 million of PMT BANs Series 2022A (CUSIP 89602HDT1), dated May 20, 2024
Transportation Revenue Bonds Series 2012B, 2012C, 2012E, 2012H, 2013A, 2013C, 2014A-1, 2014B, 2020A-2, 2020C-2
Notice of Defeasance and Prior Designation for Redemption for Certain Transportation Revenue Bonds, dated March 27, 2024
Payroll Mobility Tax Senior Lien Bonds, Subseries 2021A-2
Notice of Defeasance for PMT Subseries 2021A-2 (Tax-Exempt Mandatory Tender Bonds) (CUSIP 89602HAC1) on March 27, 2024
Transportation Revenue Variable Rate Refunding Bonds, Subseries 2020B-2
Notice of Partial Redemption of TRB Subseries 2020B-2 ($33.27 million on CUSIP 59261AN37), on March 6, 2024
Transportation Revenue Variable Rate Bonds Subseries 2005E-1 and 2005E-2
Notice of Partial Redemptions of the TRB Subseries 2005E-1 ($21.07 million on CUSIP 59261AM38) and TRB Subseries 2005E-2 ($14.96 m on CUSIP 59261ASD0), on January 8, 2024
Letter of Credit (LOC) Substitutions
Transportation Revenue Variable Rate Bonds, Subseries 2005D-2 and 2012G-4
Notice of Letter of Credit Facilities Substitution (CUSIPs 59261AS57 and 59261AS65) on November 13, 2024.
Transportation Revenue Variable Rate Refunding Bonds, Subseries 2020B-1 and 2020B-2
Notice of Letter of Credit Facilities Substitution (CUSIPs 59161AL70 and 59261AN37) on March 20, 2024.
Mandatory Tender Notices
Transportation Revenue Variable Rate Refunding Bonds, Subseries 2012G-3
Notice of Mandatory Tender (CUSIP 59261AE94) on December 11, 2024
Transportation Revenue Variable Rate Bonds, Subseries 2005D-2
Notice of Mandatory Tender (CUSIP 59261AS57) on November 13, 2024
Transportation Revenue Variable Rate Refunding Bonds, Subseries 2012G-4
Notice of Mandatory Tender (CUSIP 59261AS65) on November 13, 2024
TBTA General Revenue Variable Rate Bonds, Subseries 2003B-2
Notice of Mandatory Tender (CUSIP 89602RFW0) and Mode Change on July 18, 2024
Transportation Revenue Variable Rate Refunding Bonds Subseries 2002D-2a-1 and Subseries 2002D-2b and Transportation Revenue Variable Rate Bonds, Subseries 2005D-1
Notices of Mandatory Tender (CUSIPs 59261AL47, 59261AL62, 59261AM20) on March 28, 2024
Transportation Revenue Variable Rate Refunding Bonds Subseries 2020B-1 and Subseries 2020B-2
Notices of Mandatory Tender (CUSIPs 59261AL70 and 59261AN37) on March 20, 2024
Ratings actions
On October 31, 2024, Moody's ratings downgraded enhanced ratings for two VRDBs supported by LOCs from TD Bank (TRB 2012G-2, TRB 2002G-1g) as result of its downgrade of TD Bank N.A. on 10/23/2024. See the Moody's press release for more information.
On October 18, 2024, S&P downgraded enhanced ratings for six VRDBs supported by LOCs from TD Bank (DTF 2008A-1, DTF 2008A-2a, TRB 2012G-2, TRB 2002G-1g, TBTA 2003B-2, TBTA 2005B-4a) as result of its downgrade of TD Bank N.A. on 10/15/2024. See the S&P release for more information.
On May 10, 2024, Moody's Ratings downgraded its long-term enhanced ratings on three subseries of Transportation Revenue Variable Rate Bonds, Subseries 2002D-2a-1, 2002D-2b, and 2005D-1, to 'Aa3', as a result of the 5/8/24 Moody's downgrade on Truist Bank, which is the Letter of Credit provider for these TRB VRDBs. See the Moody's release for more information.
On March 8, 2024, Fitch Ratings upgraded its long-term enhanced ratings on ten existing subseries of Transportation Revenue Variable Rate Bonds to 'AAA', and affirmed the 'AAA' on two existing subseries, as a result of the Fitch Ratings upgrade on the underlying rating on Transportation Revenue Bonds to 'AA' on March 7, 2024. See the Fitch release for more information.
On March 7, 2024, Fitch Ratings upgraded MTA's Transportation Revenue Bonds to 'AA' from 'A' with a stable outlook, under the application of Fitch's revised Government-Related Entities Rating Criteria. See the Fitch rating action release for more information.
Financial obligations
On November 8, 2024, MTA executed a First Amendment to an existing taxable Revolving Credit Agreement with Bank of America, N.A., adjusting the credit agreement amount to $200 million and extending the credit agreement to July 30, 2027. For information see the First Amendment. Additional information regarding the credit agreement is available here: https://new.mta.info/investor-info/lines-of-credit.
On August 21, 2024, MTA executed a First Amendment to existing $800 million taxable Revolving Credit Agreement with JPMorgan Chase Bank, NA, extending the credit agreement to April 28, 2026. For information see the First Amendment. Additional information regarding the credit agreement is available here: https://new.mta.info/investor-info/lines-of-credit.
Voluntary disclosure notices
Voluntary Notice regarding Credit Facility Extension with Bank of America, N.A. for TRB Subseries 2015E-3, dated November 6, 2024.
Voluntary Notice regarding Early Mandatory Redemption on Hudson Rail Yards Refunding Trust Obligations, Series 2020A on August 15, 2024
Voluntary Notice regarding Potential Extraordinary Redemption of TBTA General Revenue Build America Bonds, dated August 9, 2024
Voluntary Notice regarding TRB Bonds Insured by AGM after AGM/AG Merger, dated August 9, 2024
Voluntary Notice regarding Credit Facilities Extensions with TD Bank, NA for TRB Subseries 2002G-1g and TRB Subseries 2012G-2, dated July 16, 2024.
Voluntary Notice regarding Potential Extraordinary Redemption of Certain MTA Build America Bonds, dated June 25, 2024
Voluntary Notice regarding Potential Refunding of Outstanding Build America Bonds, dated June 18, 2024
Voluntary Notice regarding Cancellation of AGM Insurance on TRB Subseries 2002D-2a-1 and 2002D-2b effective upon the March 28, 2024 remarketing, dated March 28, 2024
Voluntary Notice regarding Change of Remarketing Agent for TBTA General Revenue Variable Rate Refunding Bonds, Series 2018E (Federally Taxable) on February 29, 2024
Voluntary Notice regarding Early Mandatory Redemption on Hudson Rail Yards Refunding Trust Obligations, Series 2020A on February 15, 2024