Washington Metropolitan Area Transit Authority's Series 2023A Bonds Rated ?AA?; Outlook Stable

NEW YORK (S&P Global Ratings) Jan. 11, 2023--S&P Global Ratings assigned its 'AA' rating to the Washington Metropolitan Area Transit Authority's (WMATA) series 2023A dedicated revenue bonds, totaling $392 million. S&P Global Ratings also affirmed its 'AA' rating on parity WMATA dedicated revenue bonds. The outlook is stable. Dedicated capital funding revenues annually appropriated by the State of Maryland, the Commonwealth of Virginia, and District of Columbia secure the bonds. 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, after payment on WMATA's pre-2018 bonds if necessary, are pledged

...January 11, 2023 NEW YORK (S&P Global Ratings) Jan. 11, 2023--S&P Global Ratings assigned its '##' rating to the Washington Metropolitan Area Transit Authority's (WMATA) series 2023A dedicated revenue bonds, totaling $392 million. S&P Global Ratings also affirmed its '##' rating on parity WMATA dedicated revenue bonds. The outlook is stable. Dedicated capital funding revenues annually appropriated by the State of Maryland, the Commonwealth of Virginia, and District of Columbia secure the bonds. 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, after payment on WMATA's pre-2018 bonds if necessary, are pledged for debt service on these bonds. Once the dedicated capital funding revenues are deposited into the pledged revenue fund under the resolution, they must...

Ratings Action