In May 2022, the Alameda County Transportation Commission (Alameda CTC) received a AAA credit rating for $123.6 million Measure BB Sales Tax Revenue Bonds (limited tax bonds) from both Fitch Ratings and S&P Global Ratings, leading providers of credit ratings for bonds investors.
Both ratings agencies highlighted the fundamental strength and diversity of the local economy, as well as the agency’s strong financial standing in awarding the AAA rating. The $123.6 million sales tax revenue bonds will be sold in July 2022 and are secured by Measure BB, Alameda County’s transportation sales tax measure, and have a scheduled final maturity date of March 1, 2045.
The issuance of these bonds will enable Alameda CTC to deliver capital projects included in the 2014 Transportation Expenditure Plan more quickly, including road upgrades, interchange modernization and improvements, grade separation, and express lane gap closure projects. These projects will create jobs in construction, supporting industries throughout the county and expanding transportation choices for fast, safe and reliable travel.
“This is a testament to this agency’s strong leadership. Alameda CTC’s Finance Team maintains high standards of excellence in the stewardship of Alameda County tax dollars,” says Alameda CTC Chair, Emeryville Mayor John J. Bauters. “Alameda County’s economy is supported by a diverse and sustainable business base, and the investments funded with the bonds will deliver transportation solutions that generate accessible, affordable and equitable projects and programs for the County. This aligns with the Commission’s goal to deliver safe, multimodal infrastructure that is sustainable, creates jobs and expands economic growth.”
Alameda CTC’s Executive Director, Tess Lengyel, notes, “The strength of Alameda CTC’s credit rating will help expedite the delivery of projects that improve the quality of life for those traveling in Alameda County.”