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Arlington, WA Water And Sewer Bonds Upgraded To 'AA-' On Higher Debt Service Coverage And Good Liquidity Jan 12
Standard & Poors, Jan 2012
Abstract
NEW YORK (Standard & Poor's) Jan. 27, 2012--Standard & Poor's Ratings Services has raised its rating on the City of Arlington, Wash.'s water and sewer revenue bonds outstanding to 'AA-' from 'A+'. The outlook is stable. 'The upgrade reflects our view of consistently high debt service coverage on the senior-lien debt, good liquidity, and no additional debt plans,' said Standard & Poor's credit analyst Adam Torres. More specifically, the rating reflects what we believe to be the following credit strengths: Solid historical financial performance with senior-lien DSC in the past three years no lower than 4.96x, excluding one-time tap-in fees; Consistent and planned rate increases for both water and sewer service; and A primarily residential customer base that has sufficient...
Companies mentioned in this report are: Arlington
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
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.
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