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Fitch Rates Sacramento Transportation Auth, CA's 2023 Sales Tax Rev Rfdg Bnds 'AAA'; Outlook Stable

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June 14, 2023


Fitch Ratings - Austin - 14 Jun 2023: Fitch Ratings has assigned a 'AAA' rating to $306.1 million sales tax revenue refunding bonds (limited tax bonds) series 2023 to be issued by the Sacramento Transportation Authority, CA (STA or the authority).

The Rating Outlook is Stable.

Bond proceeds will be used to refund the authority's outstanding series 2009C, 2014A, and 2015A sales tax revenue bonds and terminate all or a portion of the swaps associated with the bonds for net present value (NPV) savings

Fitch has also affirmed the following outstanding STA debt at 'AAA':

--Sales tax revenue bonds (limited tax bonds), series 2014A (to be refunded);

--Sales tax revenue bonds (limited tax bonds), series 2015A (to be refunded);

--2022 sales tax revenue bonds.

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