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Cullman Utilities Board, Ala.'s Bonds Rated 'A-'

  • ID: 1714527
  • August 2000
  • Standard & Poors
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Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

NEW YORK (Standard & Poor's CreditWire) Aug. 18, 2000-- Standard & Poor's today assigned its single-'A'-minus rating to Cullman Utilities Board, Ala.'s $46.9 million water revenue bonds (Duck River project) series 2000 due Sept. 1, 2028. The outlook is stable. The bonds are secured by a net revenue pledge of the water supply system of the Utilities Board of the City of Cullman. The rating reflects an agreement wherein the city, as sole customer of the board, purchases its entire water requirements from the board on a take-or-pay basis for both its retail and wholesale customers. Under the contract, the city's payments to the board include amounts sufficient to meet monthly operating expenses (based on current expenses) and pay debt...

Companies mentioned in this report are: Cullman Utils Brd
Action: New Rating

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Cullman Utils Brd

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