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Mass Transit - US

2021 outlook negative as coronavirus reduces ridership and squeezes tax revenue

Public health concerns and shifting work patterns will continue to depress mass transit ridership recovery in 2021. Ridership will grow about 30% but remain well below the levels necessary to balance budgets and incentivize critical government subsidies. Without added external funding, most systems will need to consider reducing service, increasing fares or deficit financing, which will further weaken their ability to generate revenue.
Baye Larsen
Vice President - Senior Credit Officer, Public, Project and Infrastructure Finance
Moody's Investors Service

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US mass transit

Ridership faces a long, slow recovery

The coronavirus pandemic will continue to hurt mass transit systems’ financial performance across the United States. Lockdowns, unemployment, remote working, office closures and slowdowns in the retail and leisure industries have led to large drops in ridership, which will not approach pre-pandemic levels for many years.

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Exhibit 1

Sovereign Iage

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Exhibit 2

Sovereign Image