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Raleigh, NC Combined Enterprise System Bonds 2012A And 2012B Rated 'AAA'; Other Ratings Affirmed Mar 12
Standard & Poors, March 2012
NEW YORK (Standard & Poor's) March 6, 2012--Standard & Poor's Ratings Services has assigned its 'AAA' rating to Raleigh, N.C.'s series 2012A and B combined enterprise system revenue refunding bonds. At the same time, Standard & Poor's affirmed its 'AAA' rating on the system's parity debt. The outlook is stable. "The ratings reflect our view of the service area economy's strength and diversity, the utility's sufficient capacity to serve an expanding customer base, its fiscal policies and demonstrated willingness to adjust rates to maintain strong coverage and high liquidity levels, and the system's affordable rates," said Standard & Poor's credit analyst Joseph Pezzimenti. Raleigh will use bond proceeds to refund all or a portion of its 2004 and 2006A bonds...
Companies mentioned in this report are:
Action: New Rating
Action: Outlook: Stable
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.
Research type: News
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