{"id":12957,"date":"2026-05-29T03:38:00","date_gmt":"2026-05-29T01:38:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=dfe42501bcb40e03b52b4a7e8d9a4967"},"modified":"2026-05-29T03:38:00","modified_gmt":"2026-05-29T01:38:00","slug":"kbra-assigns-aaa-rating-with-stable-outlook-to-new-mexico-finance-authority-state-transportation-revenue-bonds-state-transportation-commission-subordinate-lien-series-2026a","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=12957","title":{"rendered":"KBRA Assigns AAA Rating with Stable Outlook to New Mexico Finance Authority State Transportation Revenue Bonds (State Transportation Commission &#8211; Subordinate Lien), Series 2026A"},"content":{"rendered":"<p>NEW YORK--(BUSINESS WIRE)--<a href=\"https:\/\/twitter.com\/hashtag\/creditratingagency?src=hash\" >#creditratingagency<\/a>--KBRA assigns a long-term rating of AAA with a Stable Outlook to the New Mexico Finance Authority State Transportation Revenue Bonds (State Transportation Commission - Subordinate Lien), Series 2026A. Concurrently, KBRA affirms the long-term rating of AAA with a Stable Outlook on the outstanding New Mexico Finance Authority State Transportation Revenue Bonds (State Transportation Commission - Senior Lien and Subordinate Lien).<\/p><br\/><a href=\"https:\/\/mms.businesswire.com\/media\/20260528799763\/en\/2818164\/5\/kbra-logo.jpg\"><img src=\"https:\/\/mms.businesswire.com\/media\/20260528799763\/en\/2818164\/22\/kbra-logo.jpg\" \/><\/a><br\/><a href=\"https:\/\/mms.businesswire.com\/media\/20260528799763\/en\/2818164\/5\/kbra-logo.jpg\"><img src=\"https:\/\/mms.businesswire.com\/media\/20260528799763\/en\/2818164\/21\/kbra-logo.jpg\" \/><\/a><p>\n<strong>Key Credit Considerations<\/strong><\/p><p>\nThe rating actions reflect the following key credit considerations:<\/p><p>\n<strong>Credit Positives<\/strong><\/p><ul class=\"bwlistsquare\">\n<li>\nRobust coverage of combined MADS from a diverse and stable array of Pledged Revenues.<\/li>\n<li>\nRapid debt amortization of the Bonds, with the final maturity of 2041.<\/li>\n<li>\nStringent additional bonds provisions that protect the TRB credit from overleveraging.<\/li>\n<\/ul><p>\n<strong>Credit Challenges<\/strong><\/p><ul class=\"bwlistsquare\">\n<li>\nPeriodic reauthorization risk associated with FAHP, mitigated by the stability and diversity of the State Revenues component of Pledged Revenues.<\/li>\n<li>\nEconomic dependency of the State on the energy sector which can be volatile, coupled with below national average State wealth income metrics.<\/li>\n<\/ul><p>\n<strong>Rating Sensitivities<\/strong><\/p><p>\nFor Upgrade<\/p><ul class=\"bwlistsquare\">\n<li>\nN\/A<\/li>\n<\/ul><p>\nFor Downgrade<\/p><ul class=\"bwlistsquare\">\n<li>\nWhile not expected, a pronounced decline in debt service coverage stemming from a severe, sustained decline in Pledged Revenues or overleveraging of the TRB credit.<\/li>\n<\/ul><p>\nTo access ratings and relevant documents, click <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Fissuers%2F55444%2Fissuer-ratings&amp;esheet=54543808&amp;newsitemid=20260528799763&amp;lan=en-US&amp;anchor=here&amp;index=1&amp;md5=8c97e9a24afb2a2c073bff99d08d5208\" rel=\"nofollow\" shape=\"rect\">here<\/a>.<\/p><p>\n<strong>Methodology<\/strong><\/p><ul class=\"bwlistsquare\">\n<li>\n<a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Fpublications%2FwMHcZbjd&amp;esheet=54543808&amp;newsitemid=20260528799763&amp;lan=en-US&amp;anchor=Public+Finance%3A+U.S.+Special+Tax+Revenue+Bond+Rating+Methodology&amp;index=2&amp;md5=cf9666911d4d8a4478a1df4155461fd5\" rel=\"nofollow\" shape=\"rect\">Public Finance: U.S. Special Tax Revenue Bond Rating Methodology<\/a><\/li>\n<\/ul><p>\n<strong>Disclosures<\/strong><\/p><p>\nA 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 Information Disclosure Form(s) located <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Fissuers%2F55444%2Fdisclosures&amp;esheet=54543808&amp;newsitemid=20260528799763&amp;lan=en-US&amp;anchor=here&amp;index=3&amp;md5=e58fb1e9fbf8e21f692c4cf77dfc484b\" rel=\"nofollow\" shape=\"rect\">here<\/a>.<\/p><p>\nInformation on the meaning of each rating category can be located <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Funderstanding-ratings%2Frating-scales%2Flong-term-credit-rating&amp;esheet=54543808&amp;newsitemid=20260528799763&amp;lan=en-US&amp;anchor=here&amp;index=4&amp;md5=cdab6794991edd2a3afbc04b856eb181\" rel=\"nofollow\" shape=\"rect\">here<\/a>.<\/p><p>\nFurther disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com&amp;esheet=54543808&amp;newsitemid=20260528799763&amp;lan=en-US&amp;anchor=www.kbra.com&amp;index=5&amp;md5=36360df41be722e8a6d472bbb63cad7a\" rel=\"nofollow\" shape=\"rect\">www.kbra.com<\/a>.<\/p><p>\n<strong>About KBRA<\/strong><\/p><p>\nKroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan\u2019s Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S.<\/p><p>\nDoc ID: 1015232<\/p><br\/> <b>Contacts<\/b> <br\/><p>\n<strong>Analytical Contacts<\/strong><\/p><p>\nJoanne Ferrigan, Senior Director (Lead Analyst)\n<br\/>+1 646-731-1455\n<br\/><a  href=\"mailto:joanne.ferrigan@kbra.com\" rel=\"nofollow\" shape=\"rect\">joanne.ferrigan@kbra.com<\/a><\/p><p>\nJonathan Harris, Senior Director\n<br\/>+1 646-731-1235\n<br\/><a  href=\"mailto:jonathan.harris@kbra.com\" rel=\"nofollow\" shape=\"rect\">jonathan.harris@kbra.com<\/a><\/p><p>\nDouglas Kilcommons, Managing Director (Rating Committee Chair)\n<br\/>+1 646-731-3341\n<br\/><a  href=\"mailto:douglas.kilcommons@kbra.com\" rel=\"nofollow\" shape=\"rect\">douglas.kilcommons@kbra.com<\/a><\/p><p>\n<strong>Business Development Contacts<\/strong><\/p><p>\nWilliam Baneky, Managing Director\n<br\/>+1 646-731-2409\n<br\/><a  href=\"mailto:william.baneky@kbra.com\" rel=\"nofollow\" shape=\"rect\">william.baneky@kbra.com<\/a><\/p><p>\nJames Kissane, Senior Director\n<br\/>+1 646-731-2380\n<br\/><a  href=\"mailto:james.kissane@kbra.com\" rel=\"nofollow\" shape=\"rect\">james.kissane@kbra.com<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>NEW YORK&#8211;(BUSINESS WIRE)&#8211;#creditratingagency&#8211;KBRA assigns a long-term rating of AAA with a Stable Outlook to the New Mexico Finance Authority State Transportation Revenue Bonds (State Transportation Commission &#8211; Subordinate Lien), Series 2026A. Conc&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-12957","post","type-post","status-publish","format-standard","hentry","category-infos-businesswire"],"_links":{"self":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/12957","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12957"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/12957\/revisions"}],"predecessor-version":[{"id":12958,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/12957\/revisions\/12958"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}