Summary: Knoxville, Tennessee Knoxville Utilities Board; Retail Electric Oct 10

Standard & Poors, October 2010

Abstract
Standard & Poor's Ratings Services has assigned its 'AA+' long-term rating to Knoxville, Tenn.'s series Z-2010 electric system revenue bonds, issued for the Knoxville Utilities Board (KUB). Standard & Poor's also affirmed its 'AA+' long-term and underlying ratings on the existing parity debt. The outlook is stable. Bond proceeds will fund capital investment. A first lien net revenue pledge of KUB's electric division secures the bonds. The electric utility had approximately $143 million in long-term revenue bonds outstanding as of June 30, 2010. The rating reflects our opinion of 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. The rating also reflects what we regard as...

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
• IntelliNews - Bosnia and Herzegovina Country Report - Issue 3, 2013
• Survey of Library Services for Distance Learning Programs
• Fund Governance: Legal Duties of Investment Company Directors.
• Future of the Indian Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018
• Slovenia Defence and Security Report Q1 2012
• Malaysia Infrastructure Report Q3 2010
• The Global Military Satellites Market 2012-2022 - Competitive Landscape and Strategic Insights: Market Profile