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Summary: Knoxville, Tennessee; Retail Electric Feb 09

  • ID: 2082544
  • February 2009
  • Region: Tennessee
  • Standard & Poors

Standard & Poor's Ratings Services assigned its 'AA+' standard long-term rating to Knoxville, Tenn.'s series Y-2009 electric system revenue improvement bonds, issued for the Knoxville Utilities Board (KUB). Additionally, Standard & Poor's affirmed its 'AA+' standard long-term rating and underlying rating (SPUR) on the existing parity debt. The rating is based on the utility's role as the sole distributor of competitively priced, take-and-pay Tennessee Valley Authority (TVA) power, which greatly reduces financial and operating risk. KUB has approximately $110.8 million in existing long-term revenue bonds as of June 30, 2008. The rating also reflects the electric division's: Economically strong service area, which serves as an employment anchor for an eight-county area in eastern Tennessee; Sound financial management of the system,...

Companies mentioned in this report are:
- Knoxville

Action: New Rating

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- Knoxville

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