Massachusetts Water Resources Authority; Utility, Water/Sewer Aug 02
Standard & Poors, August 2002
Abstract
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
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: Full Analysis
- Massachusetts Wtr Resources Auth
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