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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

  • Published: January 2013
  • Region: Tennessee
  • Standard & Poors

FEATURED COMPANIES

  • Knoxville
  • Knoxville Utils Brd
  • MORE

Abstract
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
- Knoxville

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

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- Knoxville Utils Brd
- Knoxville

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