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Debt Overview

The MTA borrows money by issuing tax-exempt bonds. We use the money to invest in infrastructure. This includes things like:

  • New subway cars,
  • expanding train stations,
  • increasing ADA accessibility, and
  • other improvements.

These investments are capital projects. The Capital Program Review Board reviews all projects. MTA uses different credits to access the market and issue its bonds to the investing public. This page is intended to give a very top level overview of the MTA's debt. For detailed and investor information, visit our investor information site.

The pie chart on the left shows the amount of debt outstanding by credit. The pie chart on the right shows the type of debt that is outstanding.

Pie Charts providing details about the MTA's outstanding debt as of December 16, 2019.

MTA Debt Rating

MTA issues debt in public offerings available to retail and institutional investors. MTA’s debt issuances include different kinds of securities obligations, including fixed-rate notes and bond, and variable rate bonds through different credits. Each of MTA’s credits has publicly issued ratings from one of the national rating agencies. The ratings are updated with each new issuance of bonds. The rating agencies publish credit reports on the MTA. You can see the MTA's current rating on our investor website

Bar graph depicting stated debt service as of December 31, 2018, broken down by credit and dollar amount
Stated Debt Service on Outstanding Debt by Credit
A bar graph depicting stated debt service on outstanding bonds and additional debt service per year by dollar amount
Stated Debt Service on Outstanding Bonds and Additional Debt Service Budgeted in November Financial Plan