- Published: May 2012
Summary: Durham, North Carolina; Water/Sewer
- Published: April 2011
- Standard & Poors
Standard & Poor's Ratings Services has assigned its 'AAA' long-term rating to Durham, N.C.'s series 2011 water and sewer utility system revenue and revenue refunding bonds. At the same time, Standard & Poor's affirmed its 'AAA' rating on the city's existing water and sewer utility revenue bonds. The rating reflects our assessment of the following credit characteristics: A diverse and expanding service area that includes the Research Triangle Park, Historically strong financial performance highlighted by strong debt service coverage margins and high liquidity levels, Sufficient system capacity, Affordable rates that have experienced periodic adjustments in recent years, A capital improvement plan (CIP) that includes a large, yet manageable, debt funding component, and Prudent oversight by management. Securing the bonds are...
Companies mentioned in this report are: Durham
Action: New Rating
Action: Outlook: Stable
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