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Summary: Knoxville, Tennessee Knoxville Utilities Board; Water/Sewer Jan 13 Product Image

Summary: Knoxville, Tennessee Knoxville Utilities Board; Water/Sewer Jan 13

  • ID: 2386362
  • January 2013
  • Region: Tennessee
  • Standard & Poors


  • Knoxville
  • Knoxville Utils Brd
  • MORE

Standard & Poor's Ratings Services assigned its 'AA+' long-term rating and stable outlook to Knoxville, Tenn.'s series 2013 wastewater system revenue refunding bonds, issued for Knoxville Utilities Board (KUB). In addition, Standard & Poor's affirmed its 'AA+' rating and underlying rating (SPUR) on the system's existing utility revenue debt. We believe the rating reflects the system's: Stable economic base, which is anchored by the University of Tennessee; Sound financial position, which includes good annual debt service coverage (DSC) and very strong liquidity policies that mitigate the absence of a debt service reserve; and Willingness set rates to achieve budgeted DSC of at least 1.5x maximum annual debt service (MADS) and maintain a 60% debt to capitalization ratio or better, even...

Companies mentioned in this report are:
- Knoxville Utils Brd
- Knoxville

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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