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Hampton Roads Sanitation District, Virginia; Revenue - Utility, Water/Sewer Dec 97 Product Image

Hampton Roads Sanitation District, Virginia; Revenue - Utility, Water/Sewer Dec 97

  • Published: December 1997
  • Standard & Poors

FEATURED COMPANIES

Abstract
AFFIRMED CREDIT PROFILE $126.44 mil wastewtr rev bnds AA OUTLOOK: STABLE The rating on Hampton Roads Sanitation District, Va.'s bonds reflects: The depth of the service area economy, Strong management of operations, Low user rates, and A manageable capital improvement program (CIP). The leading 10 customers account for a moderate 17% of system revenues, led by Anheuser Busch Inc. (7.1%). Over the past four years, debt service coverage (DSC) has improved. Operating revenues have provided better than 1.7 times (x) coverage of senior-lien debt service, thereby exceeding management's targets. However, recent loan repayments to the Virginia Resources Authority, under the revolving loan fund program, have reduced the district's annual DSC to a very good 1.9x in fiscal 1997 from a...

Companies mentioned in this report are: Hampton Rd Sant Dist

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Hampton Rd Sant Dist

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