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Summary: Miami Beach, Florida; Water/Sewer Nov 11 Product Image

Summary: Miami Beach, Florida; Water/Sewer Nov 11

  • Published: November 2011
  • Standard & Poors

FEATURED COMPANIES

Abstract
Standard & Poor's Ratings Services assigned its 'AA-' rating, and stable outlook, to the City of Miami Beach, Fla.'s series 2011A stormwater revenue bonds and series 2011B stormwater revenue refunding bonds. The rating reflects what we view as the city's: Location and role in the deep and diverse Miami metropolitan statistical area (MSA); Overall strong financial position, as evidenced by good historical coverage of annual debt service and a strong liquidity position bolstered by unrestricted cash levels and a rate stabilization fund (even though the city plans to spend down some reserves in the next six fiscal years); and Rate autonomy that has led to timely rate increases in the past few years, with the need for future rate increases...

Companies mentioned in this report are: Miami Beach
Action: New Rating
Action: Outlook: Stable

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Miami Beach

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