Standard & Poor's Ratings Services has raised its underlying rating (SPUR) to 'BBB+' from 'BBB' on Berwick Area Joint Sewer Authority, Pa.'s sewer revenue bonds based on our assessment of the authority's improved financial metrics characterized by consistently strong debt service coverage and sustained strong liquidity. The outlook is stable. Additional rating factors include: A limited local service area economy characterized by adequate, yet below average, wealth and income levels; Affordable rates that have been sporadically increased; A current $10 million capital improvement plan (CIP), which will primarily be funded with Pennvest loans; Presence of a stable, diverse, primarily residential customer base; and Ample sewer system capacity to meet the current and future customer requirements. A pledge of sewer system...
Companies mentioned in this report are: Berwick Area Jt Swr Auth
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 >