Napa Valley Transportation Authority, CA Assigned #A-# Issuer Credit Rating

Stocks and Financial Services Press Releases Thursday May 31, 2018 09:25
SAN FRANCISCO--31 May--S&P Global Ratings

SAN FRANCISCO (S&P Global Ratings) May 30, 2018--S&P Global Ratings assigned its 'a-' stand-alone credit profile and 'A-' issuer credit rating to the Napa Valley Transportation Authority, Calif. The outlook is stable.

"The ratings reflect our view of the authority's very low industry risk, extremely strong economic fundamentals and market position, strong management and governance, very strong liquidity, and low debt burden," said S&P Global Ratings credit analyst Paul Dyson.

The stable outlook reflects our expectation that the authority will maintain very strong liquidity, set fares, and manage expenses to maintain adequate financial metrics as projected in 2019, despite softness in ridership in recent years.

Certain terms used in this report, particularly certain adjectives used to express our view on rating relevant factors, have specific meanings ascribed to them in our criteria, and should therefore be read in conjunction with such criteria. Please see Ratings Criteria at www.standardandpoors.com for further information. Complete ratings information is available to subscribers of RatingsDirect at www.capitaliq.com. All ratings affected by this rating action can be found on S&P Global Ratings' public website at www.standardandpoors.com. Use the Ratings search box located in the left column.


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