- Published: March 2011
- Region: Indonesia
Summary: Mesquite, Texas; Water/Sewer
- Published: April 2011
- Region: Texas
- Standard & Poors
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
Standard & Poor's Ratings Services assigned its 'AA+' long-term rating to the city of Mesquite, Texas' series 2011 drainage utility revenue refunding bonds. At the same time, we affirmed our 'AA+' rating on the system's existing parity revenue. The outlook on all ratings is stable. Factors that, in our opinion, support the rating include: A stable, primarily residential customer base that benefits from its participation in the Dallas metropolitan area; The limited purpose nature of the system, which, when combined with the city's mature status, greatly limits additional capital needs; and The drainage fund's strong liquidity, stable debt service coverage, and rapid amortization. A gross pledge of drainage utility's revenues secures the bonds. Bond proceeds will be used to refund...
Companies mentioned in this report are: Mesquite
Action: New Rating
Action: Outlook: Stable
SHOW LESS READ MORE >