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Summary: Lincoln, NE; Utility, Water/Sewer Jul 05
Standard & Poors, July 2005
The 'AA+' rating on Lincoln, Neb.'s sanitary sewer revenue bonds series 2005, issued for the Lincoln Departments of Public Works and Public Utility, reflects the system's: Economically strong customer base experiencing manageable annual growth; The system being a retail-only service provider with no competition with growth planned through the city's comprehensive plan and annexation plan; Sufficient capacity to accommodate growth; Adequate legal provisions Good debt service coverage (DSC) levels and system liquidity, and A manageable capital plan. Two minimally offsetting factors include future rate increases and declining debt service coverage. The system currently has below-average rates, but will raise rates between 7% and 9% annually for at least the next six years to fund the system's capital plan. Pro forma...
Companies mentioned in this report are: Lincoln
Action: New Rating
Action: Outlook: Stable
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