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Summary: Knox County First Utility District, Tennessee; Water/Sewer Jan 12 Product Image

Summary: Knox County First Utility District, Tennessee; Water/Sewer Jan 12

  • Published: January 2012
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'AA+' rating and stable outlook to Knox County First Utility District, Tenn.'s series 2012 water and sewer revenue bonds and affirmed its 'AA+' rating, with a stable outlook, on the utility's existing revenue debt. The rating reflects our view of the district's: Strong service area economy with, what we consider, strong income and participation in Knoxville's deep economic base; Strong debt service coverage (DSC) and liquidity with well in excess of one year's cash on hand; Competitively low utility rates, providing revenue-raising flexibility; and Low debt. A net water system and sewer system senior-lien revenue pledge secures the series 2012 bonds, which are on parity with the district's series 2005, 2006, and 2009...

Companies mentioned in this report are:
- First Util Dist of Knox Cnty

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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- First Util Dist of Knox Cnty

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