November 02, 2007
For the second time in two weeks, Sound Transit was rewarded for its stellar financial performance with a credit rating upgrade from one of the nation’s three major independent municipal bond rating agencies.
Standard & Poor’s announced that they have upgraded Sound Transit’s subordinate lien bond rating to AAA, signaling strong investor confidence in Sound Transit’s financial health and outlook. Standard & Poor’s also affirmed the AAA rating for Sound Transit’s senior lien bonds, a rating that was upgraded to the S&P’s highest grade back in 2006.
“Two credit upgrades in less than a month is unassailable proof taxpayers can have total confidence in Sound Transit’s financial health,” said Sound Transit Board Chair and Pierce County Executive John Ladenburg. “Now we can get even more bang for the buck as we move forward with regional transit projects.”