Amid Ridership Struggles, S&P Dims Transit Outlook

Passengers wait on the platform as a train pulls into Hoboken Terminal during afternoon rush hour in Hoboken, N.J., on Oct. 10, 2016. Drew Angerer/Getty Images

Public transit agencies that can’t find new funding or make cuts could face a fiscal cliff, according to the latest report on the sector from S&P Global Ratings.

The credit rating agency gave the public transit sector a negative outlook as challenges pile up for operators while they spend down more than $70 billion in federal aid given out during the COVID-19 pandemic.