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Summary: Raleigh, North Carolina; Water/Sewer Jul 11
Standard & Poors, July 2011
Standard & Poor's Ratings Services has assigned its 'AAA' rating to Raleigh, N.C.'s series 2011 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 following factors: The service area economy's strength and diversity; Sufficient capacity to serve an expanding customer base; Strong historical and projected coverage of senior-lien debt coupled with maintained strong liquidity; and The system's competitive rates, which provide additional revenue flexibility. A pledge of the system's net revenues secures the bonds. The city will use the bond proceeds to refund all or a portion of its 2008A and B bonds, and to finance...
Companies mentioned in this report are:
Action: New Rating
Action: Outlook: Stable
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