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Summary: JEA, Florida; Water/Sewer Jan 10 Product Image

Summary: JEA, Florida; Water/Sewer Jan 10

  • Published: January 2010
  • Standard & Poors

FEATURED COMPANIES

Abstract
Standard & Poor's Ratings Services has assigned its 'AA-' long-term rating to JEA, Fla.'s senior water and sewer system revenue series 2010A Taxable Build America Bonds ($83.2 million), series 2010B taxable bonds ($24.2 million ), and series 2010C revenue refunding bonds ($57.6 million). At the same time, Standard & Poor's affirmed its ratings on JEA's debt outstanding. The outlook is stable. Credit factors supporting the ratings include our assessment of the following: JEA's strong management, which has demonstrated the ability to implement a large multiyear capital plan and integrate numerous private utility acquisitions (including United Water Florida Inc.) without diminishing the utility's financial position or greatly reducing debt service coverage (DSC); The depth and diversity of the greater Jacksonville service...

Companies mentioned in this report are:
- JEA

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

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