Contra Costa Transportation Authority, California; General Obligation; Sales Tax

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 (DSC) that we expect will be maintained at or above current levels. A gross first-lien pledge of Measure J sales tax revenue, net of an administrative fee paid to the California Department of Tax

...+ 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 (DSC) that we expect will be maintained at or above current levels....

Full Report