CHICAGO --Standard & Poor’s has issued a AA-plus rating to St. Louis Metro transit system’s new combined sales tax lien ahead of a planned $375 million refunding.

The rating agency also placed on positive watch the AA-minus rating assigned to $97 million of debt that will remain outstanding under the agency’s outstanding senior lien. The agency issues under its formal name –the Bi-State Development Agency of the Missouri-Illinois Metropolitan District.

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