February 16, 2023

‘AAA’ Rating From S&P and Kroll Shows MARTA’s Exceptionally Strong Capacity for Payment of Financial Commitments 

ATLANTA - The Metropolitan Atlanta Rapid Transit Authority (MARTA) has received an AAA credit rating, the highest rating issued, from Standard & Poor’s (S&P) and Kroll Bond Rating Agency. AAA-rated bonds have a high degree of creditworthiness and illustrate MARTA’s ability to easily meet its financial commitments with the lowest risk of default.

“This exceptional credit rating from both S&P and Kroll reflects MARTA’s strong fiscal management and is further proof that sales tax revenue is expanding due to the growth in this region. An AAA rating underscores the strength of our long-term revenue growth, substantial and growing reserve balances, and shows we are well-positioned to increase our competitiveness for federal funding and meet the expansion commitments made to our jurisdictional partners,” said MARTA General Manager and CEO Collie Greenwood. 

In fiscal year 2022, MARTA’s sales tax revenues reached an all-time high of $665 million, and sales tax revenues for the first six months of fiscal 2023 are up 9.1 percent year-over-year and forecasted to be $708.4 million. MARTA reported a $729 million reserve balance for fiscal year end 2022, and ten consecutive years of operating surpluses. 

“The timing of these rating increases couldn’t be better as we are planning to refinance two bonds in coming months. The AAA credit rating will help lower our borrowing costs to potentially save even more than previously projected,” added MARTA Chief Financial Officer Raj Srinath. “At the end of the day, we expect the projects in our Capital Improvement Program to be fully funded while still maintaining a high debt-service coverage ratio.”

“An AAA bond rating places MARTA at the top of national transit agencies in terms of financial health,” said MARTA Board of Directors Chair Thomas Worthy. “That this perfect rating comes on the heels of a global pandemic that negatively impacted the transit industry speaks volumes about the strength of MARTA’s financial management and planning, and reassures our customers, investors, and partner jurisdictions that we can and will make good on our promises.”



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