Skip Navigation Links
Front Page
About GNSExpand About GNS
Business/Industry
CommunitiesExpand Communities
EducationExpand Education
Entertainment
Links Directory
Maritime
Medicine & Science
Opinion/ForumExpand Opinion/Forum
Public Safety
Transportation
Weather


Bay Area Houston Economic Partnership
Transportation
Major Ratings Agencies Give METRO High Marks
Press Release
Friday, November 16, 2018


METRO received solid ratings for its credit worthiness from two of the major credit rating agencies, Standard & Poor's Global Ratings and Moody's Investor Service. S&P Global awarded the Authority's $121.9 million sales and use tax contractual obligations Series a "AAA" rating. This reflects S&P Global's highest ranking and an upgrade from last year's "AA+." 

S&P Global stated the upgrade reflected the agency's "extraordinary debt service coverage" and sales tax revenue growth provided by the "robust and sizable local economy that continues to expand."

Moody's assigned the Series 2018 bonds a "Aa2" rating, which matched the rating given by Moody's to METRO bonds issued in 2017. Moody's positive forecast extends to METRO's credit worthiness to take on additional debt.  

"These ratings are encouraging and reveal what we already know, that with solid support from our thriving region, METRO is on firm financial footing and poised to meet the future transit needs of the Houston/ Harris County area," said METRO President & CEO Tom Lambert.

The latest issuance is expected to close in early December. The bonds are being issued to purchase light-rail vehicles, buses, and fare box equipment.




Dannenbaum Engineering BayTran
Remembering Jim Guidry


Guidry News Service is headquartered in Midtown Houston.
at 4001 Fannin Street, Suite 4109, Houston, TX. 77004-4077
(409) 763 NEWS(6397)         News@GuidryNews.com
© 1996, Guidry News Service. Duplication of any part of this website in any manner is prohibited.