NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) releases a report that examines the funding provided to KBRA-rated transit systems by Coronavirus Aid, Relief, and Economic Security (CARES) Act grants.
Grants available through the CARES Act are a vital resource to U.S. transit system operations now buffeted by drastic ridership reductions and looming sharp declines in sales tax revenues, as a result of social distancing and stay-at-home measures related to the coronavirus (COVID-19) pandemic. In this report, KBRA examines the allocation of funds, permissible uses, and sufficiency to bridge the pandemic/recessionary environment.
Click here to view the report.
- Coronavirus (COVID-19): Sales Tax Bonds Under Surveillance
- Coronavirus (COVID-19): Mass Transit Bonds Backed by Sales Taxes and Gross Revenues Are a Mixed Bag
- Coronavirus (COVID-19): Sales Tax Collections Have Strong Immunities
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KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) with the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA. Kroll Bond Rating Agency Europe Limited is located at 6-8 College Green, Dublin 2, Ireland.
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