06/14/2021 | Press release | Distributed by Public on 06/14/2021 13:10
Release Date: June 14, 2021
Media Hot Line: 713.739.4040
METRO has once again received solid ratings for its creditworthiness from major credit rating agency, Standard & Poor's Global Ratings. S&P Global affirmed its 'AAA' rating on the Authority's sales and use tax bonds. This reflects S&P Global's highest ranking.
S&P Global stated that despite the onset and continuation of the COVID-19 pandemic, METRO sales tax collections are relatively stable and continue to provide extraordinary debt service coverage exceeding five times maximum annual debt service.
The Authority was also recognized for its rigorous but achievable standards for operational performance, experienced leadership team, track record of successfully managing its system, and transparent public reporting of financial and operating performance and plans.
'This rating reflects the committed effort of our staff who has diligently worked through the economic challenges brought on by the pandemic to ensure at all levels METRO is fiscally sound,' said METRO President & CEO Tom Lambert.