S&P Global Ratings assigned its'AAA'long-term rating to Contra Costa Transportation Authority (CCTA), California's proposed $100 million series 2026A sales tax revenue refunding bonds. At the same, we affirmed our'AAA'long-term rating on CCTA’s sales tax revenue bonds outstanding. The outlook is stable. A gross first-lien pledge of Measure J sales tax revenue, net of an administrative fee paid to the California Department of Tax and Fee Administration (CDTFA), secures the bonds. Measure J is a 0.5% sales and use tax charged on transactions and services within Contra Costa County. The tax began in 2009 and expires March 31, 2034, following final maturity on the bonds. Measure J replaced Measure C, a 0.5% sales tax the authority levied
