Fremont, NE's Rev Bond SPUR Raised To 'AA-' On Strong Financial Performance Jul 08

  • ID: 2047189
  • July 2008
  • Standard & Poors
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SAN FRANCISCO (Standard & Poor's) July 18, 2008-- Standard & Poor's Ratings Services raised its underlying rating (SPUR) to 'AA-' from 'A+' on Fremont, Neb.'s outstanding combined utilities revenue bonds. In addition, Standard & Poor's assigned its 'AA-' rating to the city's series 2008 combined utilities revenue bonds. The outlook is stable. "The raised rating reflects the city's continued strong financial performance and manageable capital needs, which should allow for continued strong margins and liquidity," said Standard & Poor's credit analyst Paul Dyson. "The rating also reflects very strong historical debt service coverage." The bonds are being issued to fund a new transmission main for the water system that will eventually double Fremont's capacity from its well field located outside...

Companies mentioned in this report are:
- Fremont

Action: New Rating
Action: Outlook: Stable
Action: Upgraded

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Research type: News
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