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University Area Joint Authority, PA Sewer Revenue Bonds Downgraded To 'A' From 'A+' Nov 11 Product Image

University Area Joint Authority, PA Sewer Revenue Bonds Downgraded To 'A' From 'A+' Nov 11

  • ID: 2025895
  • November 2011
  • Standard & Poors

FEATURED COMPANIES

  • University Area Jt Auth
  • MORE

Abstract
NEW YORK (Standard & Poor's) Nov. 10, 2011--Standard & Poor's Ratings Services has lowered its rating on the University Area Joint Authority (UAJA), Pa.'s sewer revenue bonds to 'A' from 'A+'. At the same time, Standard & Poor's assigned its 'A' rating to UAJA's sewer revenue bonds series 2011A. The outlook is stable. "The downgrade reflects our opinion that the authority does not have enough financial resources to absorb added contingent liability risk commensurate with an 'A+' rating, given a financial risk profile that is seldom materially above the minimum covenanted levels," said Standard & Poor's credit analyst Joseph Pezzimenti. On Nov. 1, 2011, UAJA issued approximately $32.8 million in series 2011 sewer revenue bonds. There were privately placed and...

Companies mentioned in this report are: University Area Jt Auth
Action: Downgraded
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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University Area Jt Auth

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