...May 15, 2020 NEW YORK (S&P Global Ratings) May 15, 2020--S&P Global Ratings has assigned its '##' rating to the Washington Metropolitan Area Transit Authority's (WMATA) series 2020A dedicated revenue bonds. The outlook is stable. "The rating reflects the weakest credit quality of the three revenue sources based on our assessment of each revenue source on a joint and several basis as each revenue stream is necessary to pay debt service on the bonds," said S&P Global Ratings credit analyst Timothy Little. We analyzed each commitment under our "Issue Credit Ratings Linked to U.S. Public Finance Obligors' Creditworthiness" criteria (published Nov. 20, 2019 on RatingsDirect), which incorporate the general credit quality of the three jurisdictions and the appropriation risk of each. The series 2020A bonds total approximately $545 million and are the inaugural series of dedicated revenue bonds issued by the authority. The bonds are being issued pursuant to a resolution adopted April 23, 2020 by...
