|
|
 |
|
Viewing report
|
|
|
|
Brookings, SD's 2011 Electric System Revenue Bonds Assigned 'A' Rating; Outlook Stable Nov 11
Standard & Poors, Nov 2011
Abstract
NEW YORK (Standard & Poor's) Nov. 15, 2011--Standard & Poor's Ratings Services has assigned its 'A' rating to the City of Brookings, S.D.'s electric system revenue bonds series 2011. The outlook is stable. 'The rating reflects our view of projected adequate coverage of debt service requirements for 2012, although near-term volatility in sales could affect the projection, a primary credit concern in the near term, but less so in the long term; and a historically steady growth trend in electric sales,' said Standard & Poor's credit analyst Jeffrey Panger. A 0.2 cent per kilowatt-hour surcharge on electric sales secures the bonds. Based on current sales, management expects that the surcharge will yield 1.31x coverage of debt service in 2012, the...
Companies mentioned in this report are: Brookings
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.
|
|
|
|
