Broward County, FL's Strong Coverage, Good Liquidity Boost Utility Debt Rating To 'AA' Jan 09
- ID: 2085895
- January 2009
- Standard & Poors
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
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