Summary: Knoxville, Tennessee Knoxville Utilities Board; Retail Electric Oct 10
- ID: 2082777
- October 2010
- Region: Tennessee
- Standard & Poors
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
Action: New Rating
Action: Outlook: Stable
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