Media Contact:
Tia Freeman, Strategic Communications Manager
Richmond Metropolitan Transportation Authority
Mobile: 804-807-4686
Phone: 804-523-3325
Email: tia.freeman@rmtaonline.org
Richmond Metropolitan Transportation Authority’s A+ Rating Affirmed by Fitch Ratings
Richmond, VA — The Richmond Metropolitan Transportation Authority (RMTA) is pleased to announce that the Authority’s A+ credit rating has been affirmed by Fitch Ratings, an award-winning provider of credit ratings, commentary and research. The rating is based on RMTA’s established history of stable traffic and revenue performance, its limited capital needs, moderate leverage and healthy liquidity.
“This rating demonstrates the importance of our commitment to strong financial management and strategic planning,” said Joi Taylor Dean, CEO, Richmond Metropolitan Transportation Authority. “At RMTA, we consistently work to remain a reliable steward of the region’s transportation assets, and I am proud our strategic investments are paying off.”
Fitch Ratings’ decision spotlighted RMTA’s:
- Stable Commuter History: The RMTA roadway system has a long operating history and a mature traffic profile that serves a well-established commuter base to and from downtown Richmond. Long-term traffic demand has endured economic cycles due to relatively stable employment and population trends. Current toll rates are moderate, indicating economic flexibility to implement further increases with modest elasticity.
- Good Infrastructure: RMTA exhibits a solid track record of maintaining its infrastructure, and its facilities are in good condition. The five-year capital plan (2026-2031) is estimated at $115 million and focuses on routine and preventive maintenance. Major capital projects include toll system improvements and bridge rehabilitation. RMTA plans to fund the capital projects with its cash flow.
- Stronger Finances: The Authority has a conservative capital debt structure. It includes long-term and fixed-rate revenue bonds that mature in various stages.
The Richmond Metropolitan Transportation Authority (RMTA) is an independent authority and political subdivision that was created by an act of the Virginia General Assembly in 1966. RMTA owns and operates three roadways in the Greater Richmond Region – the Powhite Parkway, Downtown Expressway, and Boulevard Bridge. Learn more at www.rmtaonline.org
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