The Point: Strong debt ratings underscore RCTC’s responsible financial stewardship
Credit rating agencies KBRA and Fitch Ratings recently reaffirmed a series of debt ratings assigned to bonds issued by RCTC for both Sales Tax and Toll Enterprise operations. The announcements demonstrate continued strong financial performance and emphasize the trust RCTC has earned through excellent financial stewardship.
Fitch affirmed the ‘AA+’ rating of RCTC’s local sales tax revenue bonds one year after upgrading the rating from ‘AA’. Fitch credited revenue performance and strong growth prospects as key drivers of the rating.
KBRA also published its affirmation of the ‘BBB’ rating given to RCTC’s toll revenue bonds that helped fund the I-15 Express Lanes. Daily transactions, toll revenues, and operating expenses significantly outperformed KBRA’s original projections for the managed lanes.
Positive debt ratings save taxpayers money by lowering future borrowing costs for planned transportation projects. KBRA and Fitch Ratings are organizations which provide assessments about the creditworthiness of government agencies, corporations, and other entities.