Summary: New Jersey Water Supply Authority; Water/Sewer

  • ID: 1790904
  • May 2011
  • Region: New Jersey
  • Standard & Poors
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  • New Jersey Wtr Supp Auth
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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: Affirmed
Action: Outlook: Stable

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New Jersey Wtr Supp Auth

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