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Summary: Grain Valley, Missouri; Water/Sewer Oct 11 Product Image

Summary: Grain Valley, Missouri; Water/Sewer Oct 11

  • Published: October 2011
  • Standard & Poors

FEATURED COMPANIES

Abstract
Standard & Poor's Rating Services assigned its 'A+' long-term rating to Grain Valley, Mo.'s series 2011 water revenue bonds. The outlook is stable. The rating reflects our view of the city's: Participation in the diverse Kansas City, Mo. metropolitan economy; Strong wealth and income indicators; and Good liquidity levels, despite adequate annual debt service coverage. Permissive legal provisions and limited planning documents, due to recent staff turnover, are limiting factors. Net revenues of the city's water and sewer fund secure the bonds. Bond proceeds will refund the city's 2001 water revenue bonds for interest cost savings. Grain Valley will maintain a debt service reserve funded at the standard three-prong test. The rapidly growing city is located in eastern Jackson County...

Companies mentioned in this report are: Grain Vy
Action: New Rating

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Grain Vy

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