Summary: Miami Special Utility Authority, Oklahoma; Combined Utility Oct 10
- ID: 2029170
- October 2010
- Region: Oklahoma
- Standard & Poors
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
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