NEW YORK--(BUSINESS WIRE)--NY (March 23, 2018) – Kroll Bond Rating Agency (KBRA) assigns a long-term rating of AAA with a Stable Outlook to the Los Angeles County Metropolitan Transportation Authority (LACMTA) Proposition A First Tier Senior Sales Tax Revenue Refunding Bonds, Series 2018-A. KBRA’s long-term ratings do not apply to bonds backed by a letter of credit or liquidity facility, unless otherwise noted.
KBRA’s long-term rating for the LACMTA Proposition A First Tier Senior Sales Tax Revenue Bonds is based on the U.S. Special Tax Revenue Bond Rating Methodology and the following rating determinants:
- Legal Framework
- Nature of Special Tax Revenues
- Economic Base and Demographics
- Revenue Analysis
- Coverage and Bond Structure
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KBRA is a full service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.