How can a non profit governmental unit be rated by a company that serves business?
SAN FRANCISCO (Standard&Poor's) May 16, 2011-- Standard&Poor's Ratings Services assigned its 'A' rating to Tri-County Metropolitan Transportation District (TriMet), Ore.'s $130.3 million series 2011A and 2011B capital grant receipt revenue bonds. Additionally, Standard&Poor's affirmed its 'A' long-term and underlying rating (SPUR) on TriMet's capital grant receipt revenue bonds series 2005. The outlook on all bonds is stable. "The ratings reflect our view of the TriMet system's essentiality to the Portland metropolitan area and the pledge of historically stable federal transportation funds," said Standard&Poor's credit analyst Robert Hannay. The bonds are secured by a pledge of TriMet's Federal Transit Administration (FTA) Section 5307 urbanized area formula fund receipts and federal grant funds transferred