Kroll Bond Rating Agency (KBRA) has assigned a long-term AA rating with a Stable Outlook to the Chicago Transit Authority (CTA) Sales Tax Receipts Revenue Refunding Bonds Series 2024A, while affirming the AA rating on outstanding CTA Sales Tax Receipts Revenue Bonds and AA- on Second Lien Sales Tax Receipts Revenue Bonds. Key positives include strong debt service coverage from broad-based regional sales tax revenues and robust bond protections. Challenges include economic sensitivity of pledged revenues, high tax rates, potential liquidity issues, and projected operating shortfalls through FY 2027. The stable outlook is supported by expected resilience in pledged revenues and essentiality of CTA services.