FOR IMMEDIATE RELEASE
September 4, 2024
MARTA EARNS EXCEPTIONAL AA+ CREDIT RATING
Fitch Ratings Cites MARTA’s Financial Stability, Robust Working Capital Levels for Credit Rating Upgrade
ATLANTA – Fitch Ratings, one of the country’s premier credit rating bureaus, has upgraded MARTA’s bond rating from AA to AA+. This exceptional rating demonstrates MARTA’s strong financial position and is the second time Fitch has enhanced MARTA’s rating in the last two review cycles. This higher rating allows MARTA to secure financing at more favorable interest rates, contributing positively to its financial stability, reliability, and overall success.
“This second rating increase in as many review cycles reflects MARTA’s financial stability and strong long-term revenue growth outlook,” said MARTA General Manager and CEO Collie Greenwood. “Bottom line, MARTA remains a good steward of taxpayer money and is well-positioned to increase our competitiveness for federal funding and meet the expansion commitments made to our jurisdictional partners.”
The Issuer Default Rating (IDR) upgrade to AA+ reflects continued improvements in MARTA's long-term liability burden as well as implementation under Fitch's new U.S. Public Finance Local Government Rating Criteria. Growth in the personal income base and MARTA's revenues have outpaced additional debt issuance, which positions the Authority to maintain 'midrange' liability metrics, even when considering additional issuances to fund MARTA's robust capital needs.
Further underscoring its strong fiscal management, MARTA has also earned perfect AAA ratings from both Standard & Poor’s (S&P) and Kroll Bond Rating Agency, illustrating the Authority’s creditworthiness and ability to easily meet its financial commitments with the lowest risk of default.
“These outstanding bond ratings place MARTA in the top tier of national transit agencies in terms of financial health and speak volumes about the strength of MARTA’s financial management and planning, and reassures our customers, investors, and partner jurisdictions that we can and will make good on our promises,” said MARTA Board of Director Chair Katie Powers.
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