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Summary: Loudoun County Sanitation Authority, Virginia; Water/Sewer Sep 10 Product Image

Summary: Loudoun County Sanitation Authority, Virginia; Water/Sewer Sep 10

  • ID: 2088303
  • September 2010
  • Region: Virginia
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'AAA' rating, and stable outlook, to Loudoun County Sanitation Authority, Va.'s series 2010A water and sewer system revenue refunding bonds and affirmed its 'AAA' rating, with a stable outlook, on the authority's existing revenue debt. In our opinion, the rating reflects the system's: Service area that supports a rapidly growing, diverse, and affluent Loudoun County ('AAA' general obligation (GO) debt rating); Ample capacity in both the water and wastewater systems; Affordable rates, autonomous rate-setting ability, and recently implemented multiyear rate increase; Strong finances with debt service coverage (DSC) in excess of 2x; Sound legal provisions and a conservative liquidity policy to maintain reserves equal to two or three times operating expenses; Well-seasoned, experienced...

Companies mentioned in this report are:
- Loudoun Cnty San Auth

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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