Summary: Dawson County Public Power District, Nebraska; Retail Electric Nov 10

  • ID: 1784290
  • November 2010
  • Region: Nebraska
  • Standard & Poors
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Standard & Poor's Ratings Services assigned its 'AA-' long-term rating to Dawson County Public Power District, Neb.'s series 2010B electric system revenue bonds. At the same time, Standard & Poor's affirmed its 'AA-' long-term rating on the district's parity obligations. The outlook is stable. The ratings reflect what we regard as the district's: Strong debt service coverage in 2009 of 3.26x, with coverage of maximum annual debt service (MADS) at 3.01x; Healthy unrestricted cash position of $11.4 million, equal to 120 days' cash of operations, which we consider a necessary hedge against weather volatility given the district's large irrigation load; Cost-based purchase power agreement with Nebraska Electric Generation and Transmission Cooperative (Nebraska G&T) through 2021, providing Dawson with competitively priced...

Companies mentioned in this report are:
- Dawson Pub Pwr Dist

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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- Dawson Pub Pwr Dist

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