AAA/Aaa ratings reflect the Met Council's vital regional role, strong financial management, diverse revenues, and new sales tax for critical infrastructure Two of the nation's leading credit rating services have once again assigned the highest possible ratings to the Metropolitan Council, continuing an unbroken streak that began in 1989. On Jan. 9, 2026, both S&P and Moody's Ratings awarded their AAA/Aaa ratings to the Met Council's General Obligation Wastewater Revenue and Refunding Bonds, Series 2026A ($315.6 million), General Obligation Park Bonds, Series 2026B ($8.4 million), and General Obligation Transit Bonds, Series 2026D ($76.6 million). This top-tier rating is reserved for the most creditworthy entities nationwide, placing the Met Council among an elite group of municipal issuers. The Met Council issues bonds primarily to fund capital investments in the regional transit system, wastewater services, and regional parks that serve the 3.4 million residents of the seven-county metro area. According to S&P, credit strengths include the vital role the Met Council plays in the region, providing essential wastewater treatment service and bus and rail transit service, supported by: Robust nonoperating revenue from the state motor vehicle sales tax (MVST) A sales tax revenue stream dedicated to transit A robust liquidity position The stable wastewater system enterprise that provides a ballast to the Met Council’s financial profile. "Met Council bonds offer investors a reliable, tax-exempt, low-risk investment," said Met Council Chief Financial Officer Ned Smith. "These exceptional ratings allow us to borrow at the lowest possible interest rates, which directly reduces costs for taxpayers and enables us to deliver better services and infrastructure for the region." The sustained AAA/Aaa ratings provide tangible benefits by minimizing borrowing costs for major infrastructure projects that support the region's residents and growing economy. The Met Council had approximately $1.6 billion of debt outstanding at the close of fiscal 2025. Comments from the agencies: "The stable outlook reflects the expectation that council's financial position will remain very strong supported by its relatively low reliance on revenue from passenger fares and the recent passage of a sales tax for the system." Both rating agencies highlighted the region’s large, strong, and growing economic base, as well as the organization’s strong liquidity position, diversified revenue streams, and disciplined financial management practices and policies as key factors supporting the premium ratings. Both Moody's and S&P noted the importance of the 0.75% transportation sales tax that took effect in October 2023, which exceeded budgeted amounts in fiscal 2025. In addition, Moody’s highlighted strong resident incomes approaching 120% of the U.S. average. Posted In: Council News