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Summary: Durham, North Carolina; Water/Sewer Product Image

Summary: Durham, North Carolina; Water/Sewer

  • Published: February 2011
  • Standard & Poors

FEATURED COMPANIES

Abstract
Standard & Poor's Ratings Services affirmed its 'AAA' long-term rating on Durham, N.C.'s existing water and sewer utility revenue bonds. The outlook is stable. The system's net revenues secure the bonds. The rating reflects our assessment of Durham's: Diverse and expanding service area that includes the Research Triangle Park; Sufficient system capacity; Strong debt service coverage margins; High levels of liquidity; and Periodic rate increases. Durham, part of the Raleigh-Durham-Chapel Hill metropolitan statistical area, is Durham County's (AAA) seat. Wealth and income levels are good, in our view, with median household effective buying income above state levels but slightly below national levels at 101% and 89%, respectively. In 2009, due to a revaluation, the city realized a 25.4% increase in...

Companies mentioned in this report are: Durham
Action: Affirmed
Action: Outlook: Stable

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Durham

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