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Memphis, TN Sanitary Swr Sys Rev Bnds Rtd AA+ by S&P Jan 98

  • ID: 1828024
  • January 1998
  • 180 Pages
  • Standard & Poors
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NY -- Standard & Poor's CreditWire 1/22/98 -- Standard & Poor's today assigned its double-`A'-plus rating to Memphis, Tenn.'s $20 million sanitary sewer system revenue bonds series 1998 dated Jan. 15, 1998 due July 1, 2018. The bonds are scheduled to sell Jan. 22, 1998. At the same time, Standard & Poor's raised its rating on the city's outstanding $67.2 million sanitary sewer system refunding revenue bonds series 1993, 1994A, and 1996 to double-`A'-plus from double-`A'. The minimal risks associated with the Memphis Sanitary Sewer System warrant the rating upgrade to double-`A'-plus. The rating reflects the following strengths: -- Exceptionally low sewer rates with no expected increases, -- Continued growth and economic diversification, -- Strong historic and projected debt service...

Companies mentioned in this report are:
- Memphis

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: 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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