Fitch Affirms AAA Rating of Alameda CTC Sales Tax Revenue Bonds
Apr 4, 2017 at 9:31am
Exemplary AAA bond rating confirms economic strength and excellent stewardship of taxpayer dollars.
“This continued exemplary rating of Alameda CTC’s bonds is the result of the agency’s strong financial management and stewardship of taxpayer dollars, as well as the strength and diversity of our local economy,” says Alameda CTC Chair Rebecca Kaplan, Oakland City Councilmember At-Large.
The AAA rating was affirmed for Alameda CTC sales tax revenue bonds (limited tax bonds) of approximately $137.1 million, which were sold in March 2014 to fund voter-approved transportation projects. The bonds have a scheduled final maturity date of March 1, 2022. The bonds have enabled Alameda CTC to deliver critical voter-approved transportation infrastructure improvement projects as efficiently as possible, reducing project costs while creating local jobs. The ‘AAA’ rating has reduced the cost of interest over the life of the bonds.