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JEA, FL Water And Sewer System Debt Rating Raised To 'AA' On Strong Debt Service Coverage Jan 12
Standard & Poors, January 2012
DALLAS (Standard & Poor's) Jan. 23, 2012--Standard & Poor's Ratings Services raised its rating on Jacksonville Electric Authority (JEA), Fla.'s water and sewer system debt to 'AA' from 'AA-'. At the same time, we assigned our 'AA' rating to JEA's series 2012A water and sewer system revenue bonds (separate senior and subordinated series). The outlook remains stable. "The upgrade reflects our view of the authority's strong debt service coverage and liquidity, coupled with active long-term financial and operational planning," said Standard & Poor's credit analyst James Breeding. Credit factors supporting the rating include our assessment of: JEA's strong management, which has demonstrated the ability to successfully implement a large multiyear capital plan and integrate numerous private utility acquisitions without diminishing...
Companies mentioned in this report are:
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.