NEW YORK (Standard & Poor's) Nov. 17, 2010--Standard & Poor's Ratings Services raised its issuer credit rating (ICR) on Hopewell, Va. one notch to 'AA-' from 'A+' based on its view of the system's consistently strong financial position, further strengthened by the creation of a rate stabilization fund, and solid projected debt service coverage. The outlook is stable. At the same, Standard & Poor's assigned its 'AA-' long-term rating, and stable outlook, to the city's $6 million series 2010 sewer revenue bonds. The rating also reflects Standard & Poor's view of the system's: Stable service area economy with interests in the manufacturing and military sectors; Diverse, primarily residential customer base; and Low rates despite a substantial increase in 2009 in...
Companies mentioned in this report are: Hopewell
Action: New Rating
Action: Outlook: Stable
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Research type: News
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