...S&P Global Ratings assigned its 'A+' long-term rating to Alameda Contra Costa Transit District (AC Transit), Calif.'s series 2019 refunding certificates of participation (COPs). At the same time, S&P Global Ratings affirmed its 'A+' long-term rating on the district's series 2009A certificates of participation (COPs). Finally, we affirmed our 'a+' stand-alone credit profile (SACP) and our 'A+' issuer credit rating (ICR) on AC Transit. The district is issuing the estimated $11.68 million series 2019 COPs to currently refund all of its outstanding series 2009A COPs. Our ratings on AC Transit reflect our view of the district according to our "Mass Transit Enterprise Ratings: Methodology And Assumptions" criteria (published Dec. 18, 2013 on RatingsDirect). Our long-term rating on the district's COPs also reflect the application of our "Issue Credit Ratings Linked To U.S. Public Finance Obligors' Creditworthiness" criteria, published Jan. 22, 2018, because the district includes the lease payments...
