Standard & Poor’s Ratings Services has assigned a rating of AAA to bonds backed by revenues from the Advanced Transportation District (ATD).
Triple-A ratings go to those agencies with the capacity to meet their financial obligations, and this rating reflects a strong history of sales tax collections for the ATD as well as strong management and financial practices with the proven ability to address economic and subsequent revenue declines.
The AAA rating also allows VIA to take advantage of the lowest interest rates available. This means VIA can spend less on the repayment of the bonds and spend more on building transit facilities and amenities for its riders throughout the service area.
“This is great news,” said VIA President/CEO Jeffrey Arndt. “Our AAA rating reflects VIA’s financial strength and the fiscal discipline and responsible management that are at the core of VIA’s business practices.”