Austin, Texas; Water/Sewer Nov 11
Standard & Poors, November 2011
Abstract
Standard & Poor's Ratings Services 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 (AWU). The outlook is stable. 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 to exhibit steady customer growth and very solid wealth and income levels; Water supply agreement with Lower Colorado River Authority in 1999, effectively securing a 100-year water supply at a reasonable cost, and which has not been interrupted even during...
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
Austin
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