KBRA Releases Research – CARES Act Offers Lifeline to Transit Systems but Is No Panacea

Posted by Business Wire May 20, 2020

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.

Related Publications

About KBRA and KBRA Europe

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.

Contacts

Analytical Contacts

Harvey Zachem, Managing Director

+1 (646) 731-2385

[email protected]

Peter Scherer, Associate

+1 (646) 731-2325

[email protected]

Karen Daly, Senior Managing Director

+1 (646) 731-2347

[email protected]

William Cox, Global Head of Corporate, Financial, and Government Ratings

+1 (646) 731-2472

[email protected]

Business Development Contact

Bill Baneky, Managing Director

+1 (646) 731-2409

[email protected]

James Kissane, Senior Director

+1 (213) 806-0026

[email protected]

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