Moody’s, S&P Bond Ratings Show Mobility Authority Strength

At a time when many local governments are struggling to meet their financial obligations, the Central Texas Regional Mobility Authority is being recognized for its fiscal stability. This week, Moody’s Investors Service upgraded the Mobility Authority’s bond rating, raising it to the Baa2 level. In addition, Standard and Poor’s gave strong ratings to three of Mobility Authority’s newest bonds and affirmed the agency’s long-term rate.

In awarding the upgrade, Moody’s stated the improved rating was “based on the Mobility Authority’s demonstrated ability to deliver and manage new toll road projects in a diverse, highly rated and growing service area.” The ratings agency noted that the Mobility Authority’s toll and revenue plans through 2035 helped mitigate the agency’s debt level, making for sound future projections. And the agency affirmed that the Mobility Authority has a “strong current cash position” with reserves to cover at least one year of operating expenses.

In addition to the financial reasons for the rating upgrade, Moody’s offered something we can all appreciate as commuters: 183A and the Manor Expressway will “provide significant travel time savings.”

The Mobility Authority’s success depends on the value our mobility solutions bring to you, the people in Williamson and Travis counties. Our roads add value and save time, making the Mobility Authority a sound investment. Our mission is to improve mobility by implementing innovative, multi-modal transportation solutions that reduce congestion and create transportation choices to enhance quality of life and economic vitality.

The public places a great deal of trust in us, which is why it is so important that the Mobility Authority maintain its fiscal soundness. And as the population of Austin and surrounding communities continues to grow, the Mobility Authority will continue to be a leader in providing mobility solutions for Central Texas.

5 years ago by in News & Events , Uncategorized | You can follow any responses to this entry through the RSS feed. You can leave a response, or trackback from your own site.

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