NEW YORK (Standard & Poor's) March 8, 2004--Standard & Poor's Ratings Services raised its rating on JEA, Fla.'s outstanding senior and subordinate water and sewer bonds to 'AA-' from 'A+', based on JEA's successful management of its large capital plan and integration of private utility acquisitions, coupled with the maintenance of satisfactory financial position during an expansionary phase. Standard & Poor's also assigned its 'AA-' rating to JEA's $345.76 million water and sewer revenue refunding bonds series 2004A and B and $41.11 million subordinate water and sewer revenue bonds series 2004A. The rating reflects JEA's strong management, which has demonstrated the ability to successfully implement a large multiyear capital plan and integrate eight private utility acquisitions (including United Water Florida...
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Action: New Rating
Action: Outlook: Stable
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