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S&P Credit Research937 word report
published Oct 30, 2009
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| Abstract: | SAN FRANCISCO (Standard&Poor's) Oct. 30, 2009--Standard&Poor's Ratings Services assigned its 'AA+' rating to Santa Fe, N.M.'s $55 million water utility/capital outlay gross receipts tax revenue refunding bonds. In addition, we raised the rating and underlying rating (SPUR) on Santa Fe's parity debt to 'AA+' from 'AA-', with the upgrade reflecting consistently strong financial margins and the economic stability of the Santa Fe area. The outlook is stable. "The rating reflects our opinion of the system's diverse, mostly residential customer base encompassing the City of Santa Fe; adequate water rights and system capacity relative to customer demand; strong debt service coverage ratios, bolstered by pledged 0.25% capital outlay gross receipts tax collections; and strong cash position, though
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| Brief Excerpt: | RESEARCH Ratings Definitions Santa Fe, NM's $55M Water Revenue Bonds Rated '##+'; Parity Debt Rating And SPUR Raised To '##+' Publication date: 30-Oct-2009 Primary Credit Analyst: Ian Carroll, San Francisco (1) 415-371-5060; ian_carroll@standardandpoors...
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| Report Type: | Ratings Action
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| Issuer: | Santa Fe
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| Sector: | Global Issuers, Public Finance
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| Country: | United States
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| Region: | United States
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
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