- Published: May 2012
- Region: United States
Summary: Tucson, Arizona; Water/Sewer May 11
- Published: May 2011
- Region: Arizona
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'AA-' long-term rating to Tucson, Ariz.'s series 2011 water system revenue obligations. Standard & Poor's also affirmed its 'AA-' long-term rating and underlying rating (SPUR) on the city's parity water revenue bonds. The outlook on all ratings is stable. The ratings reflect our view of: A large, diverse water system serving Tucson and unincorporated areas of Pima County; Below-average water rates for a system with sufficient supply and treatment capacity; Historically strong financial operations, with minimum targeted coverage levels; and Management's multiyear capital and operating plan, which incorporates rate increases and additional debt issuances. Partly offsetting the above strengths is our view of the system's relatively low liquidity. The water system revenue obligations...
Companies mentioned in this report are:
Action: New Rating
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. SHOW LESS READ MORE >