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Summary: Sparta, Wisconsin; Water/Sewer Dec 11 Product Image

Summary: Sparta, Wisconsin; Water/Sewer Dec 11

  • Published: December 2011
  • Standard & Poors

FEATURED COMPANIES

Abstract
Standard & Poor's Ratings Service has affirmed its 'A+' rating, with a stable outlook, on Sparta, Wis.' series 2005 water system revenue bonds. The rating reflects our assessment of the following credit characteristics: A stable financial position, Annual review of the city's competitive water rates, Adequate treatment and storage capacity, and Limited debt needs with capital improvement that is primarily funded with cash. A nominally low cash position continues to partially mitigate these strengths. Payment of debt service on the bonds is secured with a pledge of a first lien on net revenues of the city's water utility. The city also covenants that rates will be set to provide net revenues that represent at least 1.25x annual debt service. A...

Companies mentioned in this report are: Sparta
Action: Affirmed
Action: Outlook: Stable

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Sparta

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