Summary: Regional Transportation Authority, Illinois; General Obligation; Sales Tax

S&P Global Ratings revised its outlook to stable from negative and affirmed its 'AA' rating on Regional Transportation Authority (RTA), Ill.'s existing general obligation (GO) bonds. At the same time, S&P Global Ratings assigned its 'AA' rating to RTA's anticipated $95 million series 2021A taxable GO refunding bonds. The stable outlook reflects our view of RTA's stabilizing underlying creditworthiness, supported by its resilient pledged revenue performance. Actual revenue collections outperformed projections for 2020 and in the first half of 2021, at least partly due to the expansion of taxable sales to include internet transactions. Additionally, we note the recent infusion of federal stimulus grant dollars bolstered RTA's liquidity position and provides important financial flexibility for the next 24-36 months as

...S&P Global Ratings revised its outlook to stable from negative and affirmed its '##' rating on Regional Transportation Authority (RTA), Ill.'s existing general obligation (GO) bonds. At the same time, S&P Global Ratings assigned its '##' rating to RTA's anticipated $95 million series 2021A taxable GO refunding bonds. The stable outlook reflects our view of RTA's stabilizing underlying creditworthiness, supported by its resilient pledged revenue performance. Actual revenue collections outperformed projections for 2020 and in the first half of 2021, at least partly due to the expansion of taxable sales to include internet transactions. Additionally, we note the recent infusion of federal stimulus grant dollars bolstered RTA's liquidity position and provides important financial flexibility for the next 24-36 months as its service boards adjust to changes in ridership. The '##' rating reflects the application of our "priority-lien" criteria, published Oct. 22, 2018, which factors in both the...

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