Standard & Poor's Ratings Services has assigned its 'AAA' long-term rating to Fairfax County Water Authority, Va.'s series 2012 water refunding revenue bonds. At the same time, we affirmed the 'AAA' rating on the authority's existing water revenue bonds. The outlook is stable. The rating reflects our opinion of the authority's: Strong and deep service area economy in northern Virginia that serves as a principal anchor for the Washington, D.C. region; Diverse and affluent customer base; Competitive rates compared with nearby systems in addition to management's willingness to raise rates to maintain solid debt service coverage levels and capital funding; Very strong financial position and management team; and Manageable 10-year capital improvement program that it will fund primarily through pay-as-you-go...
Companies mentioned in this report are:
- Fairfax Cnty Wtr Auth
Action: New Rating
Action: Outlook: Stable
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