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Buncombe County Metropolitan Sewerage District, North Carolina; Water/Sewer Oct 11
Standard & Poors, Oct 2011
Abstract
Standard & Poor's Ratings Services affirmed its 'AA' long-term rating and underlying rating (SPUR), with a stable outlook, on Buncombe County Metropolitan Sewerage District, N.C.'s sewerage system revenue debt. The rating reflects our view of the district's: Deep and diverse service area economy that serves as a regional economic center in western North Carolina; Strong finances, coupled with a conservative and proactive management team that is focused on minimizing operating and maintenance budgetary growth; and Moderate long-term capital improvement plan (CIP), 60% of which management intends to finance through pay-as-you-go financing. We believe what we consider to be adequate, yet below-average, income somewhat offsets these credit strengths. Net sewerage system revenue secures the series 2009A and 2009B bonds. The district...
Companies mentioned in this report are: Buncombe Cnty Metro Swg Dist
Action: Affirmed
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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