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Release Date: Oct. 1, 2021
Media Hot Line: 713.739.4040
 METRO has once again received solid ratings for its creditworthiness from two major credit rating agencies.
"We are incredibly proud to once again receive top marks from major credit rating agencies. Despite COVID-19's impacts, these ratings confirm the Houston area is a resilient and thriving region," said METRO President & CEO Tom Lambert. "METRO continues to maintain a firm financial footing and is ready to meet the future transit needs of residents who live, work and play in the Houston and Harris County area."
Standard & Poor's Global Ratings affirmed its "AAA" rating on the Authority's sales and use tax bonds. This reflects S&P Global's highest ranking. S&P Global stated that despite the onset and continuation of the COVID-19 pandemic, METRO sales tax collections are relatively stable and continue to provide extraordinary debt service coverage exceeding five times maximum annual debt service.
The Kroll Bond Rating Agency (KBRA) affirmed its long-term, outstanding “AAA” rating with a Stable Outlook to METRO’s sales and use tax refunding bonds. KRBA stated this rating reflects a broad and extensive sales tax base that has not been severely affected by the COVID-19 pandemic.
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The Metropolitan Transit Authority of Harris County (METRO) is the region’s largest public transit provider, offering safe, clean, reliable, accessible and friendly transportation services. METRO’s transit network includes local bus, METRORail which includes the Red Line (Main Street and Northline), the Green Line (East End) and the Purple Line (Southeast), Park & Ride commuter buses, METROLift paratransit service, HOV/HOT lanes, Community Connector microtransit and Star Vanpool. In 2020, the Authority introduced the METRORapid Silver Line, the region’s first bus rapid transit service. Bike & Ride programs and road improvement projects are also part of METRO’s commitment to the region. Focused on investing in the region’s future mobility needs, the Authority developed the METRONext Moving Forward Plan. METRO is also the first transit provider in the region to pilot autonomous vehicle shuttle technology. Learn more about METRO services at ridemetro.org where you will also find useful tools like the RideMETRO app where you can plan your trip and even pay your fare from your phone. |
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