Bangkok--17 Sep--Standard & Poor's
Standard & Poor's Ratings Services assigned its 'A' long-term rating to the Town of Gypsum, Colo.'s series 2009 sewer enterprise revenue refunding bonds. The outlook is stable.
"The rating reflects our opinion of the town's diverse, primarily residential customer base and its history of strong collections," said Standard & Poor's credit analyst Le T. Quach. "Further supporting the rating are the sewer system's minimal capital needs and strong cash reserve levels."
Proceeds will be used to refund the town's only other outstanding revenue debt (series 2000 sewer bonds).
The system provides wastewater treatment services to approximately 1,800 predominantly residential customers in the Town of Gypsum, which is located 35 miles west of Vail along the I-70 corridor in Eagle County. The local economy is largely based in the tourism industry, but has broadened to include health care, educational services, and construction.
RELATED 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 RatingsDirect subscribers at www.ratingsdirect.com. All ratings affected by this rating action can be found on Standard & Poor's public Web site at www.standardandpoors.com; select your preferred country or region, then Ratings in the left navigation bar, followed by Find a Rating.
Media Contact:
Ana Sandoval, New York (1) 212-438-5095, [email protected]
Analyst Contacts:
Le T Quach, New York (1) 212-438-5544
Matthew Reining, San Francisco (1) 415-371-5044