S&P Global Ratings affirmed its'AA'long-term rating on Santa Cruz Metropolitan Transit District (Metro), California’s sales tax revenue bonds outstanding. The outlook is stable. The bonds are secured by a gross first-lien pledge of Measure G sales tax revenue, net of an administrative fee paid to the California Department of Tax and Fee Administration (CDTFA). Measure G is a half-cent sales and use tax levied on transactions and services within Santa Cruz County. The voter-approved tax took effect in January 1979 with no sunset provisions. As of Nov. 1, 2026, there was approximately $43.9 million in bonds outstanding. The bonds were issued to refund a portion of the district’s obligation to the California Public Employees’ Retirement System. The rating
