Bangkok--21 Nov--Standard & Poor's
Standard & Poor's Ratings Services assigned its 'AA-' long-term rating to the Colorado Water Resources and Power Development Authority's series 2011C water resources revenue bonds, issued for the Donala Water and Sanitation District. The outlook is stable.
"The rating reflects our view of the district's stable, diverse customer base that fully participates in the Colorado Springs economy, very strong historical debt service coverage, and strong liquidity position," said Standard & Poor's credit analyst Robby Hannay.
The $7 million series 2011C bonds are being issued to finance district capital projects, including an interconnection with Colorado Springs Utilities, pump station improvements, and transmission line improvements.
RELATED CRITERIA AND RESEARCH
USPF Criteria: Key Water And Sewer Utility Credit Ratio Ranges, Sept.15, 2008 USPF Criteria: Standard & Poor's Revises Criteria For Rating Water, Sewer, And Drainage Utility Revenue Bonds, Sept. 15, 2008 Complete ratings information is available to subscribers of RatingsDirect on the Global Credit Portal at www.globalcreditportal.com. All ratings affected by this rating action can be found on Standard & Poor's public Web site at www.standardandpoors.com. Use the Ratings search box located in the left column.
Media Contact:
Ola Fadahunsi, New York (1) 212-438-5095,
[email protected]
Analyst Contacts:
Robert Hannay, San Francisco (1) 415-371-5038
Daniel Zuccarello, New York 1-212-438-7414