The San Francisco Bay Area Rapid Transit District received an outlook revision to stable from negative on a set of sales tax revenue bonds structured as a TIFIA loan. The outlook revision applies to BART's junior sales tax revenue bonds, series 2024-A and 2024-B, which are structured as a Transportation Infrastructure Finance and Innovation Act (TIFIA) loans. While the outlook shift offers a degree of stabilization for the TIFIA loan bonds, BART remains under financial pressure, Fitch said. Fitch continues to affirm the agency's issuer default rating and sales tax revenue bonds at AA with negative outlooks, while its general obligation bonds hold a AAA rating with a stable outlook. Fitch further highlighted that these ongoing fiscal factors "also support the negative outlook."