NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) assigns a long-term rating of AAA with a Stable Outlook to the Commonwealth of Massachusetts’ Commonwealth Transportation Fund Revenue Bonds (Rail Enhancement & Accelerated Bridge Programs), 2018 Series A. The long-term AAA rating and Stable Outlook also applies to all of Massachusetts’ $2.59 billion outstanding Commonwealth Transportation Fund Revenue Bonds, except for bonds backed by a letter of credit or liquidity facility.
|Issuer: Commonwealth of Massachusetts|
|Commonwealth Transportation Fund Revenue Bonds||AAA||Stable||Assigned||$225,000|
|(Rail Enhancement & Accelerated Bridge Programs), 2018 Series A|
|Commonwealth Transportation Fund Revenue Bonds||AAA||Stable||Assigned||$2,586,660*|
KBRA’s Long-term ratings do not apply to bonds backed by a letter of credit or liquidity facility, unless otherwise noted
* Amount outstanding as of 6/15/2018
The above rating actions are based upon KBRA’s U.S. Special Tax Revenue Bond Rating Methodology and the following five key 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.