Summary: Knoxville, Tennessee Knoxville Utilities Board; Water/Sewer Jan 13
- ID: 2386362
- January 2013
- Region: Tennessee
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'AA+' rating and stable outlook to Knoxville, Tenn.'s series Y-2013 water system revenue bonds, issued for the Knoxville Utilities Board (KUB). Standard & Poor's also affirmed its 'AA+' rating and underlying rating (SPUR) on the water system revenue debt outstanding, issued for the board. The outlook is stable. In our opinion, the 'AA+' rating reflects the system's: Stable economic base, which is anchored by the University of Tennessee; Sound financial profile, which includes budgeted debt service coverage (DSC) of at least 2x maximum annual debt service (MADS) and strong liquidity policies that mitigate the absence of a debt service reserve; and, A goal of maintaining an equity ratio of at least 50%, which,...
Companies mentioned in this report are:
- Knoxville Utils Brd
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 >