KBRA Releases Report Affirming AAA Rating on TriMet's (OR) Senior Lien Payroll Tax Revenue Bonds

On September 26, 2023, KBRA affirmed the long-term rating of AAA with a Stable Outlook on the Tri-County Metropolitan Transportation District of Oregon's (TriMet) Senior Lien Payroll Tax Revenue Bonds.

KBRA’s rating affirmation recognizes a diverse and strong economic base, a highly reliable special tax revenue source, with demonstrated resilience during the COVID-19 pandemic, high debt service coverage margins and an additional bonds test that protects against overleveraging. Concerns are limited and center on unanticipated significantly higher debt issuance which would materially increase leverage and lower debt service coverage.

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Click here to view the report.