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Summary: JEA, Florida; Water/Sewer Feb 07

  • ID: 2045927
  • February 2007
  • Region: Florida
  • Standard & Poors

Standard & Poor's Ratings Services assigned its 'AA-' underlying rating (SPUR) to JEA, Fla.'s variable-rate water and sewer system revenue bonds series 2007B. It is expected that the bonds will be insured and remarketing risks will be addressed by inclusion of an SBPA prior to closing. The rating reflects: JEA's strong management, which has demonstrated the ability to successfully implement a large multiyear capital plan and integrate numerous private utility acquisitions (including United Water Florida Inc.) without diminishing financial position or greatly reducing debt service coverage; The depth and diversity of the Greater Jacksonville service area economy, which has been experiencing strong steady growth and is expected to continue to grow and add customer accounts over the long term; Satisfactory,...

Companies mentioned in this report are:

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

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