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Loudoun County Sanitation Authority, Va.'s Revenue Bonds Rated 'AA+'; Outlook Stable Nov 04
Standard & Poors, November 2004
BOSTON (Standard & Poor's) Nov. 30, 2004-Standard & Poor's Ratings Services has assigned its 'AA+' rating to Loudoun County Sanitation Authority, Va.'s $90 million series 2004 water and sewer system revenue bonds, reflecting the systems' service area, which supports the rapidly growing, diverse, and affluent Loudoun County ('AA+' general obligation debt rating). The bonds are expected to sell on Dec. 7. The outlook is stable. The rating also reflects affordable rates, rate autonomy, and planned moderate increases beginning in 2007 after not adjusting rates since 1991; strong finances with debt service coverage projected to remain in excess of 1.5x; a conservative liquidity policy to maintain the fund balance at between two and three years' operating expenses; conservative management with a...
Companies mentioned in this report are: Loudoun Cnty San Auth
Action: New Rating
Action: Outlook: Stable
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Research type: News
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Loudoun Cnty San Auth