- Language: English
- Published: December 2011
Summary: New Jersey Water Supply Authority; Water/Sewer
- Published: May 2011
- Region: New Jersey
- Standard & Poors
Standard & Poor's Ratings Services has affirmed its 'AA+' underlying rating on the New Jersey Water Supply Authority's (NJWSA) series 1998 bonds, issued for the Raritan River Basin System. The outlook is stable. The rating reflects our assessment of the following factors: The authority's role as the primary provider of raw water to an economically very strong area; Customers' lack of alternative water supply options, combined with very favorable economics; Very strong unrestricted days cash levels; Sound contractual provisions; and Low debt to plant ratios. The 1998 bonds are limited obligations of NJWSA, payable solely from the basin system's net revenues. The proceeds from the 1998 bonds redeemed all then-outstanding bonds. Approximately $8.8 million of subordinate state loans are outstanding....
Companies mentioned in this report are: New Jersey Wtr Supp Auth
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >
New Jersey Wtr Supp Auth