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
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