Fitch Ratings upgraded the Riverside County Transportation Commission's 91 Express Lanes bonds, a move that could lower future borrowing costs for corridor improvements used daily by Temecula-area commuters.

The credit agency raised RCTC's $613 million senior lien toll revenue bonds from A to A+ and its $75.7 million subordinate lien bonds from A- to A, according to an RCTC press release published Oct. 13. Both carry a stable outlook.

RCTC said the upgrades reflect strong toll revenue, reliable operations and ongoing technology investment on the eight-mile Riverside County extension of the 91 Express Lanes, which opened in 2017. The commission operates the extension jointly with the Orange County Transportation Authority (OCTA).

RCTC said the upgrades "may help reduce RCTC's future borrowing costs," strengthening its ability to deliver transportation improvements for Riverside County taxpayers.

Toll revenue from the 91 Express Lanes pays for operations, maintenance and bond repayment. Subject to bond requirements, that revenue also funds corridor projects that benefit both express lane and general-purpose lane drivers. Recent completed projects include the 91 Corridor Operations Project and the 15/91 Express Lanes Connector, which opened in November 2023 linking the I-15 and SR-91 express lane systems.

RCTC identified the future 91 Eastbound Corridor Operations Project as another initiative expected to draw toll revenue funding. That project received a $25 million federal BUILD grant announced in July by Rep. Ken Calvert. RCTC Chair Raymond Gregory said in a July statement announcing the grant that "with more than 300,000 vehicles traveling SR-91 between Riverside and Orange Counties each day, continued investment in the corridor is needed to keep our communities moving."

Separately, RCTC approved a contract on May 13 to extend the I-15 Express Lanes roughly 15.8 miles south from Cajalco Road in Corona to State Route 74 in Lake Elsinore. That $740 million project could begin construction in late 2027 and open to traffic by 2030, according to the commission.

The I-15 extension would bring express lane service closer to Temecula, where commuters regularly face congestion heading north on the I-15 corridor.