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Broward County, FL's Strong Coverage, Good Liquidity Boost Utility Debt Rating To 'AA' Jan 09
Standard & Poors, January 2009
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
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
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
- Broward Cnty