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Summary: Miami Special Utility Authority, Oklahoma; Combined Utility Oct 10 Product Image

Summary: Miami Special Utility Authority, Oklahoma; Combined Utility Oct 10

  • ID: 2029170
  • October 2010
  • Region: Oklahoma
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'A' long-term rating to Miami Special Utility Authority (SUA), Okla.'s series 2010 sales tax revenue bonds. The outlook is stable. The rating reflects our view of the system's: Role as a distributor of competitively priced Grand River Dam Authority power and energy, which greatly reduces risk to the electric system, the largest of Miami's utility systems; Adequate coverage of projected debt service from utility revenues, and strong debt service coverage by all pledged revenues (including appropriated sales tax revenues); and Good liquidity. The preceding credit strengths are offset in part by our view of: The system's adequate but below-average income level, and Moderate revenue concentration in the authority's customer base. The series 2010...

Companies mentioned in this report are: Miami Spl Util Auth
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 READ MORE >

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