...Florida Utility Ratings Are Stable: Water and sewer utility ratings in Florida remain strong, benefiting from improving economic conditions, stable customer demand trends and sound fiscal management. The average Florida water/sewer rating is `AA', and in 2013, most ratings were affirmed with a Stable Outlook. Most Financial Metrics Strengthen: Retail systems in Florida continue to demonstrate strong financial metrics, with most key ratios, including financial operating margins, debt service coverage and free cash flows, all trending positively over the past few years. Improved balance sheets provide greater flexibility to meet future economic and/or fiscal challenges and greater resources to meet future capital requirements. Capital Spending Projected to Increase: Tightened regulations on effluent quality standards and disposal requirements, coupled with ongoing system repair and maintenance and long- term water resource needs, will likely result in increased capital spending. As a consequence,...
