NYMTA
Standard & Poor’s (S&P) Global Ratings upgraded the MTA’s Transportation Revenue Bonds rating from “A-” to “A” with a “stable” rating outlook, MTA reported Aug. 12.
According to the transit authority, S&P took this action based on the six-month success of the Congestion Relief Zone tolling program with net revenues 8% favorable to budget; the state’s new funding source to support the MTA’s 2025-2029 Capital Plan by increasing the maximum rate of the Payroll Mobility Tax (PMT) projected to generate an additional $1.4 billion in recurring annual revenues; and the MTA’s balanced budget through 2026 with baseline increases in farebox revenue, toll revenue, dedicated taxes, and state and local subsidies, allowing the MTA to maintain a sufficiently strong financial profile.
MTA said it is also managing expenses by achieving operating efficiencies and reducing outyear deficits, which contributed to the upgrade of its credit rating. Per S&P’s report, it noted, “these deficits are manageable due to the Authority’s financial planning and strategic adjustments, including the baseline increases from previously mentioned sources.” MTA said that over the past year it has reduced the outyear deficit by $198 million, and overall operating expenses remain below budgeted levels. The July Financial Plan, it added, “reaffirms the Authority’s previously forecasted $500 million in annual cost savings beginning in 2025.”
According to MTA, S&P also “cited an increase in paid ridership, due in part to growing ridership and progress in reducing fare evasion, and expects this positive trend to continue based on the expectation of more employees returning to office, contributing to an increase in revenue through transit or the Congestion Relief Zone tolling program.”
This S&P upgrade follows Moody’s Investors Service earlier upgrade of the Transportation Revenue Bonds credit to “A2” this summer and comes ahead of the planned issuance of the Transportation Revenue Bonds this fall, the Authority reported. The Transportation Revenue Bonds are also rated “AA” by both Fitch Ratings, Inc. and Kroll Bond Rating Agency, LLC, it added.
“S&P’s upgrade demonstrates continued growth in confidence in the MTA’s financial stability while recognizing the early success of the Congestion Relief tolling program, ongoing ridership recovery, and dedicated State support to maintain a strong financial position,” MTA Chief Financial Officer Jai Patel said. “To further support the MTA’s financial profile, we’ll continue to focus on operating budget savings while delivering reliable service.”
Further Reading:
- NYMTA: ‘Safest July in Subway History’
- NYMTA Kicks Off IBX Engineering and Design Phase
- NYMTA Approves Purchase of 316 M-9A Passenger Railcars
MDOT
MDOT on Aug. 12 reported awarding $500,000 in the second round of its Purple Line Small Business Grant Program. The grants, ranging from $5,000 to $40,000, will help businesses located along the Purple Line sustain operations and preserve jobs during the 16-mile, 21-station light rail project’s construction. Out of the 350 applications, 46 eligible businesses “most directly impacted by construction” were selected to receive awards (download list below).
The Purple Line, slated to open in 2027, will extend from Bethesda in Montgomery County to New Carrollton in Prince George’s County (see map below). It will directly connect to Washington Metropolitan Area Transit Authority’s Red, Green and Orange lines at Bethesda, Silver Spring, College Park and New Carrollton. The Purple Line will also connect to MARC, Amtrak and local bus services. The project is 80% complete with more than 60% of rail installed across the alignment, according to MDOT. Half of all CAF-built Purple Line light rail vehicles (14 of the full fleet of 28 vehicles) are onsite at the Operations and Maintenance Facility in Glenridge.
The Purple Line Small Business Grant Program, launched in February 2025, will invest $4 million over four years, according to MDOT. The program will hold three grant rounds each year. In May 2025, the Department awarded $1 million.
“Grant awards to eligible businesses are prioritized based on the location of the business and its proximity to the areas most significantly impacted by construction in the prior and upcoming six months,” MDOT reported. “Grant amounts vary by business size and location and funds may be used for any business-related expenses. To be eligible, awardees must be small businesses that primarily do business with customers onsite at a location within one-quarter of a mile of the Purple Line and have been open and operational since Jan. 1, 2022.”
MDOT is encouraging businesses that did not receive an award during the second round of funding or businesses that did not apply to submit an application in the next funding cycle, which opens Oct. 6, with applications due by Nov. 14, 2025. Program details, full eligibility requirements and a link to the grant application (available in multiple languages) can be found at https://purplelinemd.com/small-business-grants/.
“Small businesses are the heart of Maryland’s economy and its diverse communities, providing jobs, essential services and economic opportunities,” MDOT Acting Secretary Samantha J. Biddle said. “It is critical that small businesses impacted during construction of the Purple Line are supported.”
Further Reading: Maryland Again Delays Purple Line Opening
NC By Train
First-half 2025 ridership on NC By Train, the state-supported Amtrak intercity passenger rail service, was up 4% from the same period in 2024, the North Carolina Department of Transportation (NCDOT) reported Aug. 12. It carried more than 355,000 riders compared with approximately 342,000 riders last year.
According to NCDOT, all stations along the Piedmont corridor between Raleigh and Charlotte saw an increase in riders getting on or off at specific stops: Salisbury was up 13%; Burlington, 12%; Kannapolis, 11%; Charlotte, 10%; Greensboro, 8%; High Point, 7%; Durham, 7%; Raleigh, 6%; and Cary, 5%.
NC By Train ridership has grown over the past three years, carrying 522,000 riders in 2022, 641,000 riders in 2023, and more than 720,000 passengers in 2024, NCDOT reported. It noted that it continues to see a positive response to the addition of a fifth-round trip between Raleigh and Charlotte in July 2023.
“We’re proud to provide an effective transportation option for North Carolinians that is convenient, affordable and reliable,” NCDOT Rail Division Director Jason Orthner said. “This type of growth supports continued improvement and expansion of NC By Train as we plan for the future.”
Separately, on May 30, NC By Train celebrated 35 years of the Carolinian between Charlotte, N.C., and New York and 30 years of the Piedmont between Charlotte and Raleigh, N.C. NCDOT also unveiled a commemorative locomotive, No. 1893, that was specially painted for the Piedmont’s anniversary.
MBTA
Effective Aug. 24, as part of fall 2025 service changes, MBTA reported that all subway lines and eight frequent bus routes will offer extended service on Fridays and Saturdays, with five of the its most frequent bus routes with the highest number of later riders offering extended service every day of the week. Trip end times for these lines and routes, it said, will be about one hour later compared with current service end times. Extended service will also be added on some ferry lines on Fridays and Saturdays through the end of September with additional trips added.
To encourage riders to take advantage of the extended service, MBTA said all subway lines, bus routes, ferries, Commuter Rail lines, and the RIDE trips will be free on Fridays and Saturdays beginning at 9 p.m. through the end of service on Sept. 5-6, Sept. 12-13, Sept. 19-20, Sept. 26-27, and Oct. 3-4.
Extending service later into the night is a frequent request and longstanding interest of the riding public, according to MBTA. “Later public transit options enhance quality of life, improve the economic vibrancy of the region, and better position the Greater Boston area to be competitive among other world-class cities that offer late-night public transportation,” it noted. “With the goal of increasing mobility during the nighttime hours for workers and travelers, this targeted approach to extending service prioritizes current evening ridership, improves connectivity across the network, and is a strategic investment that is within the MBTA’s current operating budget.”
Following are the service changes for weekends:
- Subway: Service for the Red, Orange, Blue, and Green lines will be extended by about one hour on Friday and Saturday nights. Frequency during the one-hour of extended service will be about every 30 minutes on the Ashmont and Braintree branches of the Red Line and each of the Green Line branches, and about every 15 minutes between Alewife and JFK/UMass on the Red Line, on the entire Orange Line, and on the entire Blue Line.
- Bus: Service on Bus Routes 1, 22, 39, 66, 110, SL1, SL3, and SL5 will extend by about one hour on Friday and Saturday nights. Frequency during the one-hour of extended service will be approximately every 30 minutes.
- Ferries: Service for some ferry lines will extend by one to two hours with additional trips on Fridays and Saturdays beginning Friday, Aug. 29, through Saturday, Sept. 27. On Fridays on the Hingham/Hull Ferry, an additional roundtrip will be added to the schedule departing about one hour later than current schedules. This trip departs Hingham to Long Wharf at 10:15 p.m.; the trip departs Long Wharf to Hull and Hingham at 11 p.m. The current last departure from Hingham is at 9:15 p.m. with the last departure from Long Wharf at 9:55 p.m. On Fridays and Saturday on the East Boston Ferry, additional trips will be added to the schedule with service extended to 10 p.m. The last trip from East Boston to Long Wharf will depart at 9:30 p.m.; the last trip from Long Wharf to East Boston will depart at 9:45 p.m. The current last departure from East Boston on Fridays is at 7:30 p.m. and on Saturdays is at 8:30 p.m. with the last departure from Long Wharf on Fridays at 7:45 p.m. and on Saturdays is at 8:45 p.m. On Fridays and Saturdays on the Charlestown Ferry, additional trips will be added to the schedule with service extended to 10 p.m. The last trip from Charleston to Long Wharf will depart at 9:30 p.m.; the last trip from Long Wharf to Charlestown will depart at 9:45 p.m. The current last departure from Charlestown on Fridays is at 8:15 p.m. and on Saturdays is at 6:15 p.m., with the last departure from Long Wharf on Fridays at 8:00 p.m. and on Saturdays at 6:00 p.m. For the Lynn, Winthrop, and Quincy ferries, the last trip for these routes will remain as they are on Fridays and Saturdays.
According to MBTA, service on Bus Routes 23, 28, 57, 111, and 116 will be extended by about one hour every day of the week. Frequency during the one hour of extended service will be approximately every 30 minutes. The current cost of the extended service on subway lines and bus routes for additional operations personnel hours is approximately $2 million, MBTA noted. Schedules for all lines and routes vary; regular fares will be charged for all extended services.
“Safe and reliable transportation is essential and the MBTA wants to do our part with ensuring that the public has access to mass transportation when they need it,” said MBTA General Manager and CEO Phillip Eng, who in 2025 was named an Influential Leader by Railway Age readers. “We are not satisfied with simply restoring our system to what we once provided but pushing ourselves to continuously improve. Extended service is something that we have been working towards and I’m proud that the investments being made in the MBTA allows us to now provide later service on subway, bus, and ferries, giving the public the opportunity to choose transit. We could not have done this without the hard work of the MBTA workforce and the commitment to transportation by the Healey-Driscoll Administration and the Legislature.”
Separately, John Killeen on Sept. 1 will become the new CEO of Keolis Commuter Services, MBTA’s Commuter Rail operations and maintenance partner.
