Press Release|Public Finance
KBRA Assigns AAA Rating to Metropolitan Atlanta Rapid Transit Authority Sales Tax Revenue Bonds, Series 2026C (Green Bonds) and Sales Tax Revenue Bonds, Series 2026D (Put Bonds) (Green Bonds); Affirms Rating for Parity Bonds
29 Oct 2026 | New York
KBRA assigns a long-term rating of AAA to the Metropolitan Atlanta Rapid Transit Authority Sales Tax Revenue Bonds, Series 2026C (Green Bonds) and Sales Tax Revenue Bonds, Series 2026D (Put Bonds) (Green Bonds). KBRA additionally affirms the long-term rating of AAA for outstanding parity bonds. The rating Outlook is Stable.
Key Credit Considerations
The rating actions reflect the following key credit considerations:
Credit Positives
- Pledged revenues provide ample coverage of Sales Tax Revenue Bond MADS and are a substantial source of recurring financial support for capital and operating needs.
- Favorable demographic trends and socio-demographic characteristics of the pledged revenue base are supportive of growth and stability of pledged receipts.
Credit Challenges
- Pledged receipts have moderate sensitivity to economic cycles.
Rating Sensitivities
For Upgrade
- Not applicable at AAA rating level.
For Downgrade
- A significant decline in debt service coverage due to very large increases in sales tax bond leverage accompanied by significant and prolonged deterioration in the sales tax base.
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