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Baton Rouge Water Works Co. Is Downgraded To 'A+' Jun 11
Standard & Poors, June 2011
Abstract
We have lowered the corporate credit rating on Baton Rouge Water Works Co. to 'A+' from 'AA' because we have reassessed the company's small size and lack of geographic, regulatory, and market diversity At the same time, we have lowered the company's senior secured ratings related to its first mortgage bonds to 'AA-' from 'AA'. We also assigned a recovery rating of '1+' to these bonds under our recovery methodology for regulated utilities. The outlook is stable and reflects a supportive regulatory environment, absence of competition, and largely stable residential customer base. The business risk profile remains excellent, with regulated utility operations that service a largely residential customer base providing stable cash flows. NEW YORK (Standard & Poor's) June 15,...
Companies mentioned in this report are: Baton Rouge Water Works Co. (The)
Action: Downgraded
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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