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Summary: Berks-Montgomery Municipal Authority, Pennsylvania; Water/Sewer Jun 11
Standard & Poors, June 2011
Standard & Poor's Ratings Services assigned its 'AA-' rating and stable outlook to Berks-Montgomery Municipal Authority, Pa.'s series 2011 sewer revenue bonds. The rating reflects our opinion of the authority's: Stable and primary residential customer base with, what we consider, very strong income levels; Willingness to implement rate adjustments to provide strong debt service coverage (DSC); and Strong liquidity position with more than one year's cash on hand. The authority's sewer system net revenue pledge secures the series 2011 bonds. Authority officials plan to use series 2011 bond proceeds to fund new line repairs and upgrades to the collection system to comply with a consent order by 2016. Berks-Montgomery Municipal Authority's service area, with a population estimate of 16,442, is...
Companies mentioned in this report are: Berks-Montgomery Mun Auth
Action: New Rating
Action: Outlook: Stable
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Berks-Montgomery Mun Auth