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Summary: White Settlement, Texas; Water/Sewer Oct 11
Standard & Poors, Oct 2011
Abstract
Standard & Poor's Ratings Services affirmed its 'A+' underlying rating (SPUR), with a stable outlook, on White Settlement, Texas' waterworks and sewer system revenue debt. The rating reflects our view of the city's: Access to Fort Worth's expanding and diversifying economic base; Strong combined annual debt service coverage (DSC), including partial debt service support of certificates of obligation outstanding; and Strong liquidity. We believe what we consider the city's adequate, yet below-average, income somewhat offsets these strengths. A first lien on, and pledge of, net revenue from the city's waterworks and sewer system secures the bonds. The system provides water and sanitary sewer services to about 5,350 water connections and 5,260 sewer connections in the city, which is, in our...
Companies mentioned in this report are: White Settlement
Action: Affirmed
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
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