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Summary: Knoxville Util Brd, TN; Utility, Gas Jun 05

  • ID: 2082827
  • June 2005
  • Standard & Poors
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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: Affirmed
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, READ MORE >

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- Knoxville Utils Brd

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