Fitch Affirms Maryland Transportation Auth's GARVEE Bonds at 'AA'; Outlook Stable

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NEW YORK--(BUSINESS WIRE)--Fitch Ratings affirms the 'AA' rating on the Maryland Transportation Authority's (MDTA) $349.440 million outstanding grant and revenue anticipation (GARVEE) bonds. The Rating Outlook remains Stable. RATING RATIONALE The rating is driven by a strong subordinate pledge of Maryland Department of Transportation tax revenues, a syndicate of diverse funding streams including transportation-related and certain corporate and sales taxes. The bonds are also secured by the stat

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