Summary: Lansing Board of Water and Light, Michigan; Combined Utility Apr 07
Standard & Poors, April 2007
Abstract
Standard & Poor's Ratings Services affirmed its 'AA-' rating and underlying rating (SPUR) on Lansing Board of Water and Light (BWL), Mich.'s water supply, steam, and electric utility system revenue bonds. Factors supporting the ratings include BWL's: Strong coverage of annual debt service and fixed charges; Strong competitive position, highlighted by rates that are well below the state average and the local investor-owned utility; and Role as a regional service provider. Factors representing credit weaknesses include: The recent closing of certain General Motors Corp. (GM) facilities, resulting in reduced steam, sales, and electric loads, the last of which is partially mitigated by sales contracts with GM and the opening of a new plant in Delta Township in 2006; The potential...
Companies mentioned in this report are:
- Lansing Brd of Wtr & Lt
Action: Affirmed
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.
- Lansing Brd of Wtr & Lt
Customers who bought this item also bought
All rights reserved. © Copyright 2013 Research and Markets WWW4
Terms and Conditions Privacy Policy Publishers Employment Opportunities Site Map Link to us Webmaster Affiliate Network
