S&P Global Ratings assigned its 'AA-' long-term and underlying ratings (SPUR) on Washington Metropolitan Area Transit Authority, D.C.'s (WMATA or the authority) $220 million gross revenue transit bonds series 2016A. In addition, S&P Global Ratings affirmed its 'AA-' rating on the authority's outstanding 2009A&B gross revenue transit bonds. S&P Global Ratings also affirmed its 'aa-' stand-alone credit profile (SACP) and 'AA-' issuer credit rating (ICR) on WMATA. The outlook is stable. The ratings reflect our view of WMATA's: Very low industry risk, with low cyclicality and volatility of earnings during economic cycles, and very low competition; Extremely strong economic fundamentals, with high per capita income and good growth in population and employment; Very strong management and governance policies and practices
