Bangkok--20 Apr--Standard & Poor's
Standard & Poor's Ratings Services assigned its 'AA-' rating to Brighton, Colo.'s series 2009A and 2009B water activity enterprise revenue bonds. The outlook is stable.
"The rating reflects the water and sewer enterprises' diverse customer bases, which have expanded over the current decade due to large population increases, and the systems' recent history of consistently good debt service coverage and strong liquidity," said Standard & Poor's credit analyst Matthew Reining.
Bond proceeds will be used to construct water system infrastructure and secure an additional 2.0 million gallons per day in treated, purchased water from a neighboring city under a perpetual lease agreement and to secure additional sewer capacity in the form of a planned regional wastewater plant.
Brighton is located in both Adams and Weld counties, 22 miles northeast of downtown Denver. The city has been one of the fastest-growing communities in Colorado throughout this decade.
RELATED RESEARCH
"Standard & Poor's Revises Criteria For Rating Water, Sewer, And Drainage Utility Revenue Bonds," Sept. 15, 2008
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Media Contact:
Ana Sandoval, New York (1) 212-438-5095, [email protected]
Analyst Contacts:
Matthew Reining, San Francisco (1) 415-371-5044
Misty Newland, San Francisco (1) 415-371-5073
Key Contacts:
Americas Media Relations: (1) 212-438-6667
media_ [email protected]
Americas Customer Service: (1) 212-438-7280
[email protected]