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Summary: Hampton Roads Sanitation District, Virginia; Water/Sewer Oct 09 Product Image

Summary: Hampton Roads Sanitation District, Virginia; Water/Sewer Oct 09

  • ID: 1929955
  • October 2009
  • Region: Virginia
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services raised its rating on Hampton Roads Sanitation District, Va.'s wastewater revenue debt one notch to 'AAA' from 'AA+' based on the district's consistently solid financial performance, characterized by strong coverage ratios and liquidity position. The outlook is stable. At the same time, Standard & Poor's assigned its 'AAA' rating, and stable outlook, to the district's series 2009A revenue bonds and 2009B taxable build America bonds. The rating also reflects our view of the district's: Substantial and diverse customer base in the Hampton Roads area of southeastern Virginia; Strong financial management practices; and Autonomous rate-setting authority and willingness to raise rates, as needed. Net wastewater system revenues secure the bonds. Officials plan to use bond proceeds...

Companies mentioned in this report are: Hampton Rd Sant Dist
Action: Outlook: Stable
Action: Upgraded

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