Summary: Laredo, 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 Laredo, Texas' series 2011 waterworks and sewer system revenue bonds and affirmed its 'AA-' long-term rating and underlying rating (SPUR), with a stable outlook, on the system's existing revenue debt. Additional rating factors include our opinion of the system's: Growing service area economy; Below-average water and sewer rates despite ongoing increases; Strong debt service coverage (DSC) and liquidity despite the funding of an aggressive, but well-defined, capital improvement plan (CIP); and Relatively high debt load, combined with the likely issuance of additional debt. Officials plan to use series 2011 bond proceeds to finance the expansion and improvement of the city's water and sewer system. A first...

Companies mentioned in this report are:
- Laredo

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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Laredo

Customers who bought this item also bought

• 2012 America's Neighborhoods-Zip Code 78045 for Laredo, TX report
• 2012 America's Neighborhoods-Zip Code 78046 for Laredo, TX report
• Aerospace and Defense Industry - Global Strategic Business Report
• U.S. Water Security - Investment Analysis
• India Infrastructure Report Q3 2010
• Malaysia Infrastructure Report Q3 2010
• Aerospace and Defence Industry - Global Strategic Business Report
• Public Food Distribution in India
• US Municipal Governments
• AS 9003A-2012 Inspection and Test Quality and Procedure Manual