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Burlingame; Water/Sewer Nov 11
Standard & Poors, Nov 2011
Abstract
Standard & Poor's Ratings Services assigned its 'AA+' long-term rating to Burlingame Financing Authority, Calif.'s series 2011 water and wastewater revenue refunding bonds issued for Burlingame. At the same time, we affirmed our 'AA+' underlying rating (SPUR) on the authority's water and wastewater revenue bonds that are currently outstanding. The outlook is stable. The ratings reflect our view of the water and wastewater systems': Built-out service area with a predominantly residential customer base that fully participates in the deep and diverse San Francisco Bay Area economy; Adequate water supply and wastewater treatment capacity, with a capital improvement program focused on renewal and replacement projects that management plans to equity finance; Track record of water and wastewater rate increases -- particularly...
Companies mentioned in this report are: Burlingame
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
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