CTA objects to credit rating downgrade
Moody’s Investors Service cut the Aa3 rating on $2.9 billion of the agency's sales tax revenue bonds one notch to A1, citing diminished political will to raise revenue amid growing capital needs. The transit agency countered that it has no plans to seek additional funding, and that sales tax, fare and other revenue is increasing.
CHICAGO — The Chicago Transit Authority (CTA) said that the Moody’s Investors Service downgrade of its credit rating was not justified because its revenue is growing, Reuters reported.
Moody's cut the Aa3 rating on $2.9 billion of the agency's sales tax revenue bonds one notch to A1 with a negative outlook. The ratings agency cited diminished political will to raise revenue amid growing capital needs and decreased state and federal support.
The transit agency countered that it is determined to operate within its means and has no plans to seek additional funding. It also noted sales tax, fare and other revenue is increasing.
The CTA also opposed a plan proposed by the Regional Transportation Authority to take away its authority to issue bonds. For the full story, click here.
More Bus
Biz Briefs: OCTA Taps Clean Energy for Hydrogen Station, Stadler to Supply Via Rail Vehicles, and More
From manufacturers and suppliers to transit agencies and motorcoach operators, these updates offer a snapshot of the projects, partnerships and business moves driving the industry forward.
Read More →
METRO Magazine Announces 2026 Innovative Solutions Awards Winners
Projects Recognized for Advancing Mobility Through Technology, Accessibility, Workforce Innovation, and Operational Excellence
Read More →
Biz Briefs: STV teams with Amtrak, Motorcoach Operators Boost Fleet and Land Contracts, and More
From manufacturers and suppliers to transit agencies and motorcoach operators, these updates offer a snapshot of the projects, partnerships and business moves driving the industry forward.
Read More →
LA Metro Marks Banner Year, Sets Ambitious Goals for New Fiscal Year
Incoming LA Metro Board Chair and Los Angeles Mayor Karen Bass joined outgoing Board Chair Fernando Dutra and LA Metro CEO Stephanie Wiggins to review accomplishments from fiscal year 2026, which included the opening of new rail extensions, advancement of major transit projects, expanded safety programs, and new rider amenities.
Read More →
DART Taps Nathaniel P. Ford Sr. as Next President/CEO
Since 2012, Ford has served as the CEO of the Jacksonville Transportation Authority
Read More →
AC Transit’s Cecil Blandon on Building the Next Generation of Transit Maintenance Leaders
The agency’s maintenance chief discusses leadership, workforce development, zero-emission technology, and preparing technicians for the future of public transportation.
Read More →
Building the Next Generation of Transit Technology
In this edition of METROspectives, Luminator CEO Magnus Friberg discusses the company's transformation, the growing role of AI and software, and what's next for transit technology.
Read More →
June LA Metro Ridership Surges 2 Million Year Over Year
Total June ridership increased for both weekdays and weekends. Weekday ridership was 953,820, which grew 8.4% from June 2025; Saturdays increased nearly 13% year-over-year to 708,826; and Sundays increased 7.7% to 611,534 from June 2025, according to LA Metro.
Read More →
Washington's Pierce Transit Board Sends Transit Funding Measure to November Ballot
With the adoption of Resolution 2026-006, the measure moves to the Pierce County Auditor, giving voters in the Pierce Transit service area the decision on whether to fund an expansion of local transit service within the agency’s service area.
Read More →
New York Unveils Sweeping Plan to Modernize City Bus Service
Next Stop: Fast Buses, Better Service identifies 50 priority bus corridors for improvements across the five boroughs and launches the City’s next generation of rapid bus service along five key routes.
Read More →