Summary: Houston, Texas; Joint Criteria; Water/Sewer May 11
- ID: 1802495
- May 2011
- Region: Texas
- Standard & Poors
Standard & Poor's Ratings Services raised its underlying rating (SPUR) on Houston, Texas' combined utility system's (CUS) previous ordinance bonds one notch to 'AA+' from 'AA' based on Standard & Poor's assessment of the lien's closed nature supporting those bonds and the high debt service coverage (DSC) associated with the bonds. The outlook is stable. Standard & Poor's also assigned its 'AA' long-term rating, and stable outlook, to the city's series 2011D CUS first-lien revenue bonds. Net revenues of the CUS secure the bonds, which are subordinate to the lien securing the previous ordinance bonds. The ratings reflect our opinion of the system's: Deep and diverse service area economy and customer base; Strong operational characteristics that further position it as...
Companies mentioned in this report are:
- Coastal Wtr Auth
Action: New Rating
Action: Outlook: Stable
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