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Las Vegas Valley Water District, NV's GO Bonds Assigned 'AA+' Rating Dec 09 Product Image

Las Vegas Valley Water District, NV's GO Bonds Assigned 'AA+' Rating Dec 09

  • ID: 1785875
  • December 2009
  • Standard & Poors

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

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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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- Las Vegas Vy Wtr Dist

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