New York

The authority's borrowing apparatus is maintaining a business-as-usual approach it embarks on a massive new capital program and fends off federal cuts.

"We are expecting a lot of interest in the offering next week," said Geoff Urbina, managing director, KeyBanc Capital Markets Public Finance.

The world's biggest opera house has been downgraded for the second time this year.

Metropolitan College plans to sell its Manhattan campus to The City University of New York, providing a reprieve for its bondholders. 

Transit expert and former MTA head "Train Daddy" Andy Byford is in charge of the $7 billion renovation.

Proceeds of the sale are expected to fund the purchase of the non-gambling businesses at Genting Group's Resorts World Catskills in Sullivan County.

The relative rarity of the credit was compounded by their source of funds, the deal's size, and bond ratings slightly lower than New York state and city. 

Municipal issuers in the Northeast sold $72.25 billion of bonds in the first half of 2025, up 14.7% year-over-year, propelled by new money and GO deals.

The rating agency cited the MTA's congestion pricing program, ridership recovery, healthy liquidity levels, and continued state support for the higher rating.

An investor presentation highlights industry conferences and consulting services that "have made the CIA the 'think tank' of the food service industry."