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Summary: Knoxville, Tennessee Knoxville Utilities Board; Water/Sewer Oct 09
Standard & Poors, October 2009
Standard & Poor's Ratings Services assigned its 'AA+' rating, and stable outlook, to the city of Knoxville, Tenn.'s series U-2009 water system revenue bonds, issued for the Knoxville Utilities Board (KUB). Standard & Poor's also affirmed its 'AA+' long-term rating and underlying rating (SPUR) on the city's water system revenue debt outstanding, issued for the board. The 'AA+' rating reflects our opinion of the system's: Economically stable economic base, which is anchored by the University of Tennessee; Sound financial position, which includes good annual debt service coverage (DSC) and very strong liquidity policies that mitigate the absence of a debt service reserve; and Modest future capital requirements. We believe that the low wealth and income indicators combined with an extended...
Companies mentioned in this report are: Knoxville Utils Brd,Knoxville
Action: New Rating
Action: Outlook: Stable
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Knoxville Utils Brd,Knoxville