Summary: Washington Metropolitan Area Transit Authority; Appropriations

S&P Global Ratings has assigned its 'AA' rating to the Washington Metropolitan Area Transit Authority's (WMATA) series 2021A dedicated revenue bonds and affirmed our rating on the series 2020A dedicated revenue bonds outstanding. The outlook is stable. The series 2021A bonds total approximately $874 million and are the second series of dedicated revenue bonds issued by the authority. The bonds are being issued to finance a portion of WMATA's 2021-2027 capital improvement program. The bonds are secured by dedicated capital funding revenues annually appropriated by the State of Maryland, the Commonwealth of Virginia, and District of Columbia. The revenues identified by the three jurisdictions are defined within individual funding commitments to WMATA. However, each separate revenue source is not specifically

...S&P Global Ratings has assigned its '##' rating to the Washington Metropolitan Area Transit Authority's (WMATA) series 2021A dedicated revenue bonds and affirmed our rating on the series 2020A dedicated revenue bonds outstanding. The outlook is stable. The series 2021A bonds total approximately $874 million and are the second series of dedicated revenue bonds issued by the authority. The bonds are being issued to finance a portion of WMATA's 2021-2027 capital improvement program. The bonds are secured by dedicated capital funding revenues annually appropriated by the State of Maryland, the Commonwealth of Virginia, and District of Columbia. The revenues identified by the three jurisdictions are defined within individual funding commitments to WMATA. However, each separate revenue source is not specifically pledged for debt service, only the amounts annually appropriated and then deposited into the WMATA revenue fund. Revenues deposited into the fund must first be used for debt service....

Summary