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KBRA Releases Report Assigning AAA Rating with Stable Outlook to Texas Transportation Commission State of Texas General Obligation Mobility Fund Refunding Bonds, Series 2020

NEW YORK–(BUSINESS WIRE)–On June 18, 2020, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of AAA with a Stable Outlook to Texas Transportation Commission State of Texas General Obligation Mobility Fund Refunding Bonds, Series 2020. Concurrently, KBRA affirmed the long-term rating of AAA and Stable Outlook on the Commission’s State of Texas Highway Improvement General Obligation Bonds as well as the State of Texas’ General Obligation Bonds.

Click here to view the report. To access ratings and relevant documents, click here.

Disclosures

Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.

A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the U.S. Information Disclosure Form located here.

Information on the meaning of each rating category can be located here.

Further disclosures relating to this rating action are available in the U.S. Information Disclosure Form referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.

About KBRA

KBRA is a full-service credit rating agency registered as an NRSRO with the U.S. Securities and Exchange Commission. 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 is registered with ESMA as a CRA.

Contacts

Analytical Contacts

Paul Kwiatkoski, Managing Director (Lead Analyst)

+1 (646) 731-2387

pkwiatkosi@kbra.com

Patricia McGuigan, Senior Director

+1 (646) 731-3350

pmcguigan@kbra.com

Peter Scherer, Associate

+1 (646) 731-2325

pscherer@kbra.com

Karen Daly, Senior Managing Director (Rating Committee Chair)

+1 (646) 731-2347

kdaly@kbra.com

Business Development Contacts

Bill Baneky, Managing Director

+1 (646) 731-2409

bbaneky@kbra.com

James Kissane, Senior Director

+1 (213) 806-0026

jkissane@kbra.com

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