CENTENNIAL (S&P Global Ratings) Feb. 4, 2022--S&P Global Ratings assigned its 'AA' long-term rating to Santa Cruz Metropolitan Transit District, Calif.'s (Metro) proposed $52.2 million sales tax revenue bonds (measure G) series 2022. The outlook is stable. "Improved sales tax collections in 2021 that have rebounded from 2020 and exceeded 2019 collections, a stable population, and supportive additional bonds test are all reflected in the current rating and stable outlook," said S&P Global Ratings credit analyst Ken Biddison. Key credit considerations include: Santa Cruz County's strong economic fundamentals; The district's very strong coverage and liquidity; A pledged sales tax revenue stream that we believe has demonstrated low historical volatility; and Our view that the district's general creditworthiness constrains the credit
