KBRA Releases Report Assigning AAA Rating and Stable Outlook to MTA of Harris County, TX Sales and Use Tax Refunding Bonds, Taxable Series 2020

NEW YORK--(BUSINESS WIRE)--On January 29, 2020, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of AAA and Stable Outlook to the Metropolitan Transit Authority of Harris County, Texas Sales and Use Tax Refunding Bonds, Taxable Series 2020A. KBRA additionally upgraded to AAA with a Stable Outlook, from AA+, the Authority’s Sales and Use Tax Refunding Bonds Series 2019A and Sales and Use Tax Refunding Bonds Taxable Series 2019B.

Issuer: Metropolitan Transit Authority of Harris County, Texas
Assigned	Rating	Outlook
Sales and Use Tax Refunding Bonds, Taxable Series 2020A	AAA	Stable
Upgraded	Rating	Outlook
Sales and Use Tax Refunding Bonds Series 2019A	AAA (from AA+)	Stable
Sales and Use Tax Refunding Bonds Taxable Series 2019B	AAA (from AA+)	Stable

The rating actions are based on KBRA’s U.S. Special Tax Revenue Bond Rating Methodology and an assessment of the following five rating determinants identified therein:

• Legal Framework
• Nature of Special Tax Revenues
• Economic Base and Demographics
• Revenue Analysis
• Coverage and Bond Structure

To access the full rating report, click here.

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About KBRA and KBRA Europe

KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is 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.