The Chicago Transit Authority late last week received a AA-plus rating from Standard & Poor’s on its upcoming pension-related issue of $1.9 billion of sales and transfer tax revenue bonds.

The rating marks a two-notch improvement over the Aa3 credit assigned to the bonds by Moody’s Investors Service earlier last week. The CTA has submitted the plan to Illinois auditor general William Holland for review and hopes to issue the bonds later this summer or in the fall.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.