Summary: District of Columbia Water & Sewer Authority; Water/Sewer Mar 12

Standard & Poors, March 2012

Abstract
Standard & Poor's Ratings Services raised to 'AA' from 'AA-' its rating on District of Columbia Water & Sewer Authority (DC Water)'s subordinate-lien revenue bonds, and to 'AA+' from 'AA' its rating on the senior-lien revenue bonds. At the same time, we assigned a 'AA' rating to DC Water's series 2012A, series 2012B-1, series 2012B-2, and series 2012C public utility subordinate-lien revenue bonds. The outlook on all ratings is stable. The upgrade is based on DC Water's maintenance of a strong financial profile, even in light of the expected issuance of significant additional debt as the system addresses a number of regulatory mandates. The upgrade affects approximately $1.5 billion of debt. We are maintaining a notch between the senior and...

Companies mentioned in this report are: District of Columbia Wtr & Swr Auth
Action: New Rating
Action: Outlook: Stable
Action: Upgraded

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

District of Columbia Wtr & Swr Auth

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