- Language: English
- Published: October 2012
- Region: New Jersey
Summary: Aberdeen, South Dakota; Water/Sewer May 12
- ID: 2127903
- May 2012
- Region: South Dakota
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'A' rating, with a stable outlook, to the city of Aberdeen, S.D.'s 2012A water revenue and 2012B taxable water revenue refunding bonds. Our rating reflects our assessment of the utility's: Ample water capacity with a good operating profile; Strong liquidity levels, despite a recent decrease due to one-time capital needs; and Moderate debt profile with no additional debt plans. Offsetting these strengths, in our view, are the utility's adequate income levels with fluctuating annual debt service coverage. Net revenues of the water system secure the debt. Bond proceeds will refund two state revolving fund loans for interest cost savings. The city will maintain a debt service reserve at the standard three-prong test. Aberdeen...
Companies mentioned in this report are: Aberdeen
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >