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Austin, Texas; Water/Sewer Mar 07
Standard & Poors, March 2007
Abstract
Standard & Poor's Ratings Services assigned its 'A+' standard long-term rating, and stable outlook, to Austin, Texas' series 2007 separate-lien water and wastewater system revenue refunding bonds and affirmed its 'A+' Standard & Poor's underlying rating (SPUR), with a stable outlook, on the city's parity separate-lien water and wastewater utility system revenue debt. The ratings continue to reflect the city's: Service area, which is not concentrated in revenues derived from its principal customers and continues to exhibit steady customer growth and very solid overall wealth and income levels; Water supply agreement with Lower Colorado River Authority that effectively secures a 100-year water supply at a reasonable cost; and Demonstrated willingness to adjust rates to help fund a capital improvement plan...
Companies mentioned in this report are: Austin
Action: New Rating
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: Full Analysis
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