El Paso,Texas; Utility, Water/Sewer Aug 03

  • ID: 1824631
  • August 2003
  • Region: Texas
  • Standard & Poors
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The 'AA' rating on El Paso, Texas' water and sewer revenue refunding and improvement bonds reflects the system's: Stable area economy; Continuous customer base growth; Strong debt service coverage; and Low rates, providing future rate flexibility. A large 10-year, $804 million capital improvement program (CIP), which the city expects to fund from a combination of debt issuance, cash on hand, and other revenues, precludes a higher rating. A pledge of net system revenues secures the bonds. The system provides water and sewer service to 159,081 water customers and 152,165 sewer customers in and outside the city. Current water treatment capacity is sufficient with a combination of surface and well water, which has an estimated combined capacity during its peak summer...

Companies mentioned in this report are:
- El Paso

Action: New Rating

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El Paso

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