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JEA, FL's Senior & Subordinate Water & Sewer Bond Rating Raised to 'AA-' Mar 04

  • ID: 2045717
  • March 2004
  • Standard & Poors
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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
Action: Upgraded

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
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