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Broward County, FL's Strong Coverage, Good Liquidity Boost Utility Debt Rating To 'AA' Jan 09 Product Image

Broward County, FL's Strong Coverage, Good Liquidity Boost Utility Debt Rating To 'AA' Jan 09

  • Published: January 2009
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) Jan. 28, 2009--Standard & Poor's Ratings Services raised its standard long-term rating and underlying rating (SPUR) on Broward County, Fla.'s water and sewer utility revenue bonds one notch to 'AA' from 'AA-' based on Standard & Poor's view of the system's strong debt service coverage and good liquidity. The outlook is stable. Standard & Poor's also assigned its 'AA' standard long-term rating, and stable outlook, to the county's $178.915 million series 2009A water and sewer utility revenue bonds. In Standard & Poor's opinion, the rating also reflects the system's large, primarily wholesale wastewater customer base and a significant retail, primarily residential, water customer base; economic base, which, though experiencing the effects of the current economic...

Companies mentioned in this report are:
- Broward Cnty

Action: New Rating
Action: Outlook: Stable
Action: Upgraded

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 READ MORE >

- Broward Cnty

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