Summary: Berwick Area Joint Sewer Authority, Pennsylvania; Water/Sewer Jul 12

Standard & Poors, July 2012

Abstract
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
Action: Upgraded

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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.

Berwick Area Jt Swr Auth

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