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American Water Capital Corp.'s Unsecured Notes Rated 'BBB+'; Ratings On American Water Works Are Affirmed
Standard & Poors, Sep 2009
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.
Abstract
U.S. regulated water utility American Water Capital has issued its $28.5 million series 2009 unsecured bonds due 2039 through the Illinois Finance Authority. We are assigning our 'BBB+' unsecured rating to the bonds. We are also affirming our 'BBB+' corporate credit rating on American Water Works Co. Inc. and its regulated and nonregulated subsidiaries. Ratings benefit from favorable regulatory cost-recovery mechanisms, stable cash flows, absence of competition within existing service territories, and relatively low operating risk. NEW YORK (Standard & Poor's) Sept. 16, 2009--Standard & Poor's Ratings Services said today it assigned its 'BBB+' unsecured debt rating to American Water Capital Corp.'s (AWCC) $28.5 million series 2009 water revenue bonds due Sept. 1, 2039. The Illinois Finance Authority issued the...
Companies mentioned in this report are: American Water Capital Corp.,Illinois Fin Auth,American Water Works Co. Inc.
Action: Affirmed
Action: New Rating
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