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Summary: St. George, Utah; Water/Sewer Feb 12
Standard & Poors, February 2012
Standard & Poor's Ratings Services assigned its 'A+' long-term rating to the city of St. George, Utah's water revenue refunding bonds, series 2012. At the same time, we affirmed our 'A+' rating on the water utility's 2011 existing bond. The outlook is stable. The rating reflects our assessment of the utility's: Ample supply to handle additional demand; Good annual debt service coverage; and Favorable debt profile with no additional plans at this time. These strengths are lessened by our view of the utility's reliance on outside funds to provide liquidity and adequate income levels. Bond proceeds will refund the utility's 2004 bonds for interest cost savings. Net revenues of the water system secure the bonds. The city will maintain a...
Companies mentioned in this report are: St George
Action: New Rating
Action: Outlook: Stable
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