Standard & Poor's Ratings Services has assigned its 'A' long-term rating to Bay Laurel Center Community Development District, Fla.'s series 2010 water and sewer revenue bonds, reflecting our view of the system's: Stable management and operations team, History of regular rate increases with recent approval of an inflation-indexed rate inflator, Good historical financial performance with strong liquidity levels, and Modest $2.6 million five-year capital improvement plan (CIP) with no plans for additional debt. Credit weaknesses, in our view, include: Above-average water and wastewater rates with a limited income customer base, and A highly leveraged system. Net system revenues, including all connection charges, secure the bonds. The district is expected to use the bond proceeds to finance the acquisition and expansion...
Companies mentioned in this report are: Bay Laurel Center Community Development District
Action: New Rating
Action: Outlook: Stable
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