Massachusetts Water Resources Authority; Utility, Water/Sewer Aug 02
- ID: 1784594
- August 2002
- Region: Massachusetts
- Standard & Poors
The rating on Massachusetts Water Resources Authority's general revenue subordinate bonds reflects: Continued progress in financing the construction of mandated projects at lower-than-anticipated costs due to strong management and fortuitous inflation and interest rate environments, including completion of the single largest project--the Deer Island Wastewater Treatment Plant; The breadth and depth of an affluent service area; Strong management, which has generated strong reserves and solid liquidity over a number of years; Very strong collection enforcement mechanisms--including state aid intercept and proactive--and beneficial federal court oversight of mandated projects; The fiscally strong Boston Water and Sewer Commission ('AA-'/stable), which will account for approximately 31% of the authority's fiscal 2002 rate revenues; The authority's success in maintaining strong reserves and liquidity levels...
Companies mentioned in this report are:
- Massachusetts Wtr Resources Auth
Action: New Rating
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