• +353-1-415-1241(GMT OFFICE HOURS)
  • 1-800-526-8630(US/CAN TOLL FREE)
  • 1-917-300-0470(EST OFFICE HOURS)
Summary: Indianapolis Local Public Improvement Bond Bank Indianapolis, Indiana; Joint Criteria; Water/Sewer Mar 11 Product Image

Summary: Indianapolis Local Public Improvement Bond Bank Indianapolis, Indiana; Joint Criteria; Water/Sewer Mar 11

  • Published: March 2011
  • Region: Indiana
  • Standard & Poors

Abstract
Standard & Poor's Rating Services lowered its rating to 'A+' from 'AA-'on Indianapolis Local Public Improvement Bond Bank, Ind.'s waterworks debt, issued for Indianapolis, reflecting the waterworks department's very low liquidity position, to the extent that the utility currently relies on non-utility funds to help manage cash flow, despite its adequate debt service coverage. The outlook is stable. At the same time, we assigned our 'A+' rating and stable outlook to the Bond Bank's 2011E waterworks revenue bonds, issued for the Indianapolis Department of Waterworks. The 'A+' ratings reflect our view of the utility's: Deep, diverse, and moderately growing service area; Good system capacity; and Financial and administrative support from both Indianapolis and Veolia Water Indianapolis LLC, which is expected...

Companies mentioned in this report are: Indianapolis,Indianapolis Local Public Improvement Bond Bank
Action: Downgraded

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 READ MORE >

Indianapolis,Indianapolis Local Public Improvement Bond Bank

Note: Product cover images may vary from those shown

RELATED PRODUCTS