KBRA Releases Research – COVID-19 Infects Sales Tax Revenues

NEW YORK--()--Kroll Bond Rating Agency (KBRA) releases research on nationwide sales tax collection trends and municipal sales tax revenue bonds.

The COVID-19 pandemic has adversely affected economically sensitive state and local revenue sources. Sales tax collections declined sharply in the early months of the pandemic, although recent year-over-year retail sales activity data suggests a budding recovery. Despite this uneven performance and potential for further volatility, KBRA believes sales tax revenue bonds are well secured and coverage remains strong, although individual municipality sales tax performance may not align with national trends due to localized retail issues. KBRA will monitor on a credit-by-credit basis.

Click here to view the report.

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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) with the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe is registered with ESMA as a CRA. Kroll Bond Rating Agency Europe is located at 6-8 College Green, Dublin 2, Ireland.

Contacts

Analytical Contacts

Harvey Zachem, Managing Director
+1 (646) 731-2385
hzachem@kbra.com

Jozelle Cox, Analyst
+1 (646) 731-1227
jcox@kbra.com

Karen Daly, Senior Managing Director
+1 (646) 731-2347
kdaly@kbra.com

Business Development Contact

Bill Baneky, Managing Director
+1 (646) 731-2409
bbaneky@kbra.com

James Kissane, Senior Director
+1 (203) 806-0026
jkissane@kbra.com

Contacts

Analytical Contacts

Harvey Zachem, Managing Director
+1 (646) 731-2385
hzachem@kbra.com

Jozelle Cox, Analyst
+1 (646) 731-1227
jcox@kbra.com

Karen Daly, Senior Managing Director
+1 (646) 731-2347
kdaly@kbra.com

Business Development Contact

Bill Baneky, Managing Director
+1 (646) 731-2409
bbaneky@kbra.com

James Kissane, Senior Director
+1 (203) 806-0026
jkissane@kbra.com