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

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

  • ID: 2082777
  • October 2010
  • Region: Tennessee
  • Standard & Poors

FEATURED COMPANIES

  • Knoxville
  • Knoxville Utils Brd
  • MORE

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

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Note: Product cover images may vary from those shown

- Knoxville Utils Brd
- Knoxville

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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