Summary: Knoxville Util Brd, TN; Public Finance Structured, Insured Liquidity; Utility, Water/Sewer Mar 04

Standard & Poors, March 2004

Abstract
Standard & Poor's Ratings Services assigned its 'AA' rating, and stable outlook, to Knoxville, Tenn.'s series 2004A wastewater system revenue refunding and improvement bonds, issued for Knoxville Utilities Board (KUB). The rating reflects the system's: Economically strong and growing service area, which serves as an employment anchor for an eight-county area in eastern Tennessee; Sound financial position, including good annual debt service coverage (DSC) and strong liquidity policies that mitigate the absence of a debt service reserve; and Demonstrated willingness to adjust rates, as necessary, to support revenue- and debt-funded capital improvements. Factors that moderate these strengths include the system's: Below-average wealth and income indicators, caused mostly by a large student populace; and Ongoing capital efforts to remediate a series...

Companies mentioned in this report are: Knoxville Utils Brd,Knoxville
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Knoxville Utils Brd,Knoxville

Customers who bought this item also bought

• Transforming Research Libraries for the Global Knowledge Society
• A Bird's-Eye View of Assessment. Selections from Editor's Notes. Assessment Update Special Collections
• The Profession and Practice of Adult Education. An Introduction
• Survey of Library Services for Distance Learning Programs
• Egypt Defence and Security Report Q3 2013
• IntelliNews - Bosnia and Herzegovina Country Report - Issue 3, 2013
• Further & Higher Education Business Ratio Report
• Survey of Public Library Efforts to Provide Job Information Resources
• 2012 America's Neighborhoods-Zip Code 37013 for Antioch, TN report
• 2012 America's Neighborhoods-Zip Code 37027 for Brentwood, TN report