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Austin, TX's 2011 Water System Bonds Rated 'AA'; Outlook Stable Nov 11
Standard & Poors, Nov 2011
Abstract
DALLAS (Standard & Poor's) Nov. 2, 2011--Standard & Poor's Ratings Services said today it assigned its 'AA' long-term rating and stable outlook to Austin, Texas' series 2011 water and wastewater system revenue refunding bonds. We also affirmed the 'AA' long-term rating and underlying rating (SPUR) on the parity separate-lien debt of the system, which does business as Austin Water Utility. 'The stable outlook reflects our expectation that management will continue to adjust rates proactively, and implement or continue other as-necessary policies in line with its to-be-adopted business model,' said Standard & Poor's credit analyst Theodore Chapman. The ratings reflect the system's general creditworthiness, including its: Service area, which is not concentrated in revenues derived from its principal customers and continues...
Companies mentioned in this report are: Austin
Action: Affirmed
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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