SAN FRANCISCO (Standard & Poor's) Dec. 2, 2009--Standard & Poor's Ratings Services assigned its 'AA+' rating to Las Vegas Valley Water District, Nev.'s $349 million limited-tax general obligation (GO) water bonds, series 2009C (taxable direct-pay Build America Bonds), and $71 million limited-tax GO water and refunding bonds, series 2009D. At the same time, Standard & Poor's affirmed its 'AA+' long-term rating and underlying rating (SPUR) on the district's outstanding GO bonds, and its 'AA+' issuer credit rating (ICR) on the district. The outlook is stable. "The rating is based on the district's generally strong financial management, including maintenance of strong cash reserves," said Standard & Poor's credit analyst Paul Dyson. "Moreover, despite recent rate increases, we believe the district has...
Companies mentioned in this report are:
- Las Vegas Vy Wtr Dist
Action: New Rating
Action: Outlook: Stable
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