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Summary: Mukilteo Water and Wastewater District, Washington; Water/Sewer Mar 12 Product Image

Summary: Mukilteo Water and Wastewater District, Washington; Water/Sewer Mar 12

  • ID: 2085386
  • March 2012
  • Region: Washington
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'AA+' rating and stable outlook to Mukilteo Water and Wastewater District, Wash.'s 2012 water and wastewater revenue bonds. At the same time, we affirmed our 'AA+' long-term rating on the district's series 2008 water and wastewater improvement and refunding revenue bonds. The rating reflects our view of the district's: A primarily residential and stable customer base that is nearly built-out; Convenient access to the diverse Puget Sound economy, with very strong income indicators; Very strong annual senior-lien debt service coverage of 3.0x in 2010 and 2011, based on unaudited financial estimates; Adequate water supply and wastewater system capacity to meet current average and peak demand requirements; and Extremely strong unrestricted cash reserves, with...

Companies mentioned in this report are: Mukilteo Wtr and Wastewtr Dist
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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