Summary: Norwalk, Iowa; Water/Sewer - S&P Global Ratings’ Credit Research

Summary: Norwalk, Iowa; Water/Sewer

Summary: Norwalk, Iowa; Water/Sewer - S&P Global Ratings’ Credit Research
Summary: Norwalk, Iowa; Water/Sewer
Published Jul 12, 2018
5 pages (2215 words) — Published Jul 12, 2018
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

S&P Global Ratings assigned its 'A+' long-term rating to Norwalk, Iowa's series 2018C water revenue bonds. The rating reflects, in our opinion, the combination of a very strong enterprise risk profile and a strong financial risk profile. The outlook is stable. The enterprise risk profile reflects our view of the water system's: Good economic indicators and participation in a broad and diverse metropolitan statistical area (MSA); Very low industry risk as a monopolistic service provider of an essential public utility; Inexpensive rates based on the average residential bill, with below-average poverty rates; and Standard operational management assessment (OMA). The financial risk profile reflects our view of the water system's: Strong all-in debt service coverage (DSC); Very strong liquidity levels during

  
Brief Excerpt:

...S&P Global Ratings assigned its 'A+' long-term rating to Norwalk, Iowa's series 2018C water revenue bonds. The rating reflects, in our opinion, the combination of a very strong enterprise risk profile and a strong financial risk profile. The outlook is stable. The enterprise risk profile reflects our view of the water system's: + Good economic indicators and participation in a broad and diverse metropolitan statistical area (MSA); + Very low industry risk as a monopolistic service provider of an essential public utility; + Inexpensive rates based on the average residential bill, with below-average poverty rates; and + Standard operational management assessment (OMA). The financial risk profile reflects our view of the water system's: + Strong all-in debt service coverage (DSC); + Very strong liquidity levels during the past five years, as evidenced by unrestricted cash and investments of $1.9 million, or 611 days of operating expenses, in fiscal 2017; + Moderate capital needs based on the...

  
Report Type:

Summary

Issuer
Sector
Public Finance
Country
Region
Format:
PDF Adobe Acrobat
Buy Now

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings 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.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Summary: Norwalk, Iowa; Water/Sewer" Jul 12, 2018. Alacra Store. Nov 19, 2018. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Norwalk-Iowa-Water-Sewer-2070726>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Norwalk, Iowa; Water/Sewer Jul 12, 2018. New York, NY: Alacra Store. Retrieved Nov 19, 2018 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Norwalk-Iowa-Water-Sewer-2070726>
  
US$ 225.00
$  £  
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.