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'A-' Rating Assigned To Benton Irrigation District, WA's Water Revenue Bonds Oct 11
Standard & Poors, Oct 2011
Abstract
SAN FRANCISCO (Standard & Poor's) Oct. 6, 2011-- Standard & Poor's Ratings Service assigned its 'A-' long-term rating to Benton Irrigation District, Wash.'s series 2011 water revenue (assessment lien) bonds. The outlook is stable. 'The rating reflects our view of the district's enhanced operations after completion of its pressurized irrigation system,' said Standard & Poor's credit analyst Robert Hannay. 'Further strengthening the rating in our view is the district's treatments of rates as assessments on customers' properties and its ability to shut off water service if its annual rate is not paid up front,' Mr. Hannay added. The bonds are being issued to finance an improvement project associated with the Yakima River Basin Water Enhancement Project, which entails moving the...
Companies mentioned in this report are: Benton Irr Dist
Action: New Rating
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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