NEW ORLEANS – Last week, the New Orleans Regional Transit Authority (RTA) was awarded an AA- positive long-term rating by S&P Global Inc. S&P Global has upgraded the previous outlook from A+ stable to AA- positive, primarily concerning outstanding sales tax revenue bonds. 

There is potential for another upgrade in two years, as S&P Global expresses confidence that rebounded pledged revenues will remain steady, reinforcing robust coverage and liquidity.

The rating also mirrors RTA’s strong to very strong economic fundamentals, derived from a thriving and diverse economy that serves as a dynamic engine for the state.

With historically low volatility in nationwide sales taxes, the agency maintains an overall strong creditworthiness based on sales tax revenue bonds.

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The New Orleans Regional Transit Authority is a political subdivision of the State of Louisiana which is operated by an independent Board of Commissioners that serves Orleans, Jefferson and St. Bernard parishes. The agency operates car and passenger ferries, fixed-route buses, paratransit, streetcar, and limited on-demand service.