Summary: Knoxville Util Brd, TN; Utility, Gas Jun 05
- ID: 2082827
- June 2005
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'AA' rating to the City of Knoxville, Tenn.'s series L-2005 gas system revenue refunding and improvement bonds, issued for the Knoxville Utilities Board (KUB). Additionally, Standard & Poor's affirmed its 'AA' long-term rating and underlying rating on the outstanding debt. 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; Role as the sole distributor of retail gas within its service area; Rate mechanism, which passes through all of its wholesale market exposure monthly; Sound financial position, including good annual debt service coverage (DSC) and strong liquidity policies that mitigate the absence of a debt service reserve, which also...
Companies mentioned in this report are:
- Knoxville Utils Brd
Action: New Rating
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. SHOW LESS READ MORE >