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Fitch Ratings Affirms Northern Virginia Transportation Authority AA+ Bond Rating
 
Fitch Ratings has affirmed the AA+ rating, with stable outlook, on the Northern Virginia Transportation Authority’s (NVTA) Series 2014 Transportation Special Tax Revenue Bonds.  These 2014 bonds were the inaugural, and to date only, NVTA bond issuance.  The 2014 bonds funded $74 million in critically needed, regional, multi-modal transportation improvements for Northern Virginia.
 
In affirming the AA+ standing Fitch cited key rating drivers of: 
Exceptional Revenue Resilience’, noting pledged revenues of close to $222 million in fiscal year 2016.
‘Vibrant Service Area’, noting the NVTA region remains among the economically strongest in the country.
Strong Governance’, through an expectation that the NVTA will prudently manage the execution of its capital plan and future debt issuance in lockstep with the strong practices demonstrated by the Commonwealth and NVTA member jurisdictions.    
 
NVTA Chairman Martin E. Nohe expressed appreciation for the confidence shown by Fitch Ratings through this affirmation.  Chairman Nohe also recognized the diligent leadership of his fellow Authority members, the professionalism of the NVTA staff and the regional collaboration demonstrated by staff from Northern Virginia’s cities, counties, towns and transit agencies.
 
Click here to see the Fitch Ratings press release.

For more information about the Authority, visit the NVTA website or our TransAction website.
 
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Report #44 - 3.24.17
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