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

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

  • ID: 1824631
  • August 2003
  • Region: Texas
  • Standard & Poors

Abstract
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

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.

Research Type: Full Analysis

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El Paso

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