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Alabama Drinking Water Finance Authority's 2012-A Refunding Bonds Rated 'AA' Jan 12
Standard & Poors, Jan 2012
Abstract
DALLAS (Standard & Poor's) Jan. 10, 2012--Standard & Poor's Ratings Services has assigned its 'AA' long-term rating, with a stable outlook, to Alabama Drinking Water Finance Authority's series 2012-A revolving fund loan refunding bonds. Bond proceeds will be used to refund prior obligations of the authority, specifically the series 1998A, 2000A, 2000C, and 2002A revolving fund loan bonds. The bonds are payable from the sources outlined in the indenture, which are primarily loan repayments received from borrowers in the state's drinking water revolving fund program. 'The rating primarily reflects our assessment of the structure of the cash flows through the life of the bonds, which produces annual surpluses,' said Standard & Poor's credit analyst James Breeding. The rating also reflects:...
Companies mentioned in this report are: Alabama Drinking Wtr Fin 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 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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