Contra Costa Transportation Authority, CA Sales Tax Revenue Bond Rating Raised To 'AAA' From 'AA+' On Recent Resilience

DALLAS (S&P Global Ratings) Jan. 23, 2025--S&P Global Ratings raised its long-term rating on Contra Costa Transportation Authority (CCTA), Calif.'s sales tax revenue bonds outstanding to 'AAA' from 'AA+'. At the same time, S&P Global Ratings assigned its 'AAA' long-term rating to CCTA's proposed $55,550,000 series 2025A sales tax revenue refunding bonds. The outlook is stable. "The rating action reflects our view that CCTA's Measure J sales tax revenue has demonstrated resilience in recent years, supported by a strong and diverse tax base, resulting in growing revenues and improved debt service coverage that we expect will be maintained at or above current levels," said S&P Global Ratings credit analyst Bikram Dhaliwal. The stable outlook reflects our expectation that that pledged

...January 23, 2025 DALLAS (S&P Global Ratings) Jan. 23, 2025--S&P Global Ratings raised its long-term rating on Contra Costa Transportation Authority (CCTA), Calif.'s sales tax revenue bonds outstanding to '###' from '##+'. At the same time, S&P Global Ratings assigned its '###' long-term rating to CCTA's proposed $55,550,000 series 2025A sales tax revenue refunding bonds. The outlook is stable. "The rating action reflects our view that CCTA's Measure J sales tax revenue has demonstrated resilience in recent years, supported by a strong and diverse tax base, resulting in growing revenues and improved debt service coverage that we expect will be maintained at or above current levels," said S&P Global Ratings credit analyst Bikram Dhaliwal. The stable outlook reflects our expectation that that pledged Measure J revenue will continue to produce very strong coverage, supported by the county's above-average income levels and broad and diverse economy. We could lower the rating if pledged revenue...

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