- Language: English
- Published: October 2012
- Region: Tennessee
Summary: Chattanooga, Tennessee; Retail Electric May 11
- ID: 1724266
- May 2011
- Region: Tennessee
- Standard & Poors
Standard & Poor's Ratings Services has revised its outlook on Chattanooga (EPB or the utility), Tenn.'s electric system revenue bonds outstanding to positive from stable. At the same time, Standard & Poor's affirmed its 'AA' rating on the bonds. At fiscal year-end 2010 (June 30), the utility had $291 million of debt outstanding. The outlook revision reflects our view that management's assumptions are reasonable and should lead to stronger financial metrics within our two-year outlook horizon. These assumptions include an electric rate increase in mid-2011 and continuing strong customer growth for the telecommunications and Internet systems. A net revenue pledge of the electric system secures the bonds. In 2008, EPB issued $200 million of revenue bonds to fund the build-out...
Companies mentioned in this report are:
Action: Outlook: Positive
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. SHOW LESS READ MORE >