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Bexar Metropolitan Water District, TX's 2010 Bonds Rated 'A'; Off Watch Neg Dec 10
Standard & Poors, Dec 2010
Abstract
DALLAS (Standard & Poor's) Dec. 6, 2010--Standard & Poor's Ratings Services said it assigned its 'A' rating and negative outlook to Bexar Metropolitan Water District (Bexar Met), Texas' series 2010 senior-lien revenue refunding bonds, series 2010A subordinate-lien revenue refunding bonds, and series 2010B taxable revenue refunding bonds. At the same time, we affirmed our 'A' rating on Bexar Met's outstanding senior-lien revenue bonds and removed it from CreditWatch. The outlook on all debt is negative. 'We are concerned that the district could continue to face difficult financial decisions, which could constrain its ability for infrastructure maintenance and investment and thus cause capital expenditure deferrals or further inconsistency in financial performance, or both,' said Standard & Poor's credit analyst Theodore Chapman....
Companies mentioned in this report are: Bexar Metro Wtr Dist,Bexar Metro Dev Corp,Canyon Regl Wtr Auth
Action: Affirmed
Action: New Rating
Action: Outlook: Negative
Action: Removed From CreditWatch
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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