Huntsville, AL Electric Revenue Bond Rating Lowered To 'AA-' From 'AA' On Criteria Application - S&P Global Ratings’ Credit Research

Huntsville, AL Electric Revenue Bond Rating Lowered To 'AA-' From 'AA' On Criteria Application

Huntsville, AL Electric Revenue Bond Rating Lowered To 'AA-' From 'AA' On Criteria Application - S&P Global Ratings’ Credit Research
Huntsville, AL Electric Revenue Bond Rating Lowered To 'AA-' From 'AA' On Criteria Application
Published Oct 25, 2019
2 pages (1210 words) — Published Oct 25, 2019
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) Oct. 25, 2019--S&P Global Ratings lowered its rating on the city of Huntsville, Ala.'s electric revenue bonds to 'AA-' from 'AA'. The outlook is stable. The downgrade primarily reflects the application of our "U.S. Municipal Retail Electric And Gas Utilities: Methodology And Assumptions" criteria (published Sept. 27, 2018). Under the revised criteria, we believe that Huntsville's fixed cost coverage (FCC) and liquidity metrics no longer support the previous rating. "The rating reflects our view that Huntsville has a very strong enterprise risk profile, and a strong financial risk profile," said S&P Global Ratings credit analyst Jeff Panger. The enterprise risk profile reflects our view of Huntsville's: Very strong service area economic fundamentals; Very strong operational

  
Brief Excerpt:

...October 25, 2019 NEW YORK (S&P Global Ratings) Oct. 25, 2019--S&P Global Ratings lowered its rating on the city of Huntsville, Ala.'s electric revenue bonds to '##-' from '##'. The outlook is stable. The downgrade primarily reflects the application of our "U.S. Municipal Retail Electric And Gas Utilities: Methodology And Assumptions" criteria (published Sept. 27, 2018). Under the revised criteria, we believe that Huntsville's fixed cost coverage (FCC) and liquidity metrics no longer support the previous rating. "The rating reflects our view that Huntsville has a very strong enterprise risk profile, and a strong financial risk profile," said S&P Global Ratings credit analyst Jeff Panger. The enterprise risk profile reflects our view of Huntsville's: - Very strong service area economic fundamentals; - Very strong operational and management assessment; - Extremely strong market position; and - Extremely strong industry risk relative to other industries and sectors. The financial risk profile...

  
Report Type:

Ratings Action

Issuer
Huntsville
Sector
Global Issuers, Public Finance
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Huntsville, AL Electric Revenue Bond Rating Lowered To 'AA-' From 'AA' On Criteria Application" Oct 25, 2019. Alacra Store. May 05, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Huntsville-AL-Electric-Revenue-Bond-Rating-Lowered-To-AA-From-AA-On-Criteria-Application-2327465>
  
APA:
S&P Global Ratings’ Credit Research. (). Huntsville, AL Electric Revenue Bond Rating Lowered To 'AA-' From 'AA' On Criteria Application Oct 25, 2019. New York, NY: Alacra Store. Retrieved May 05, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Huntsville-AL-Electric-Revenue-Bond-Rating-Lowered-To-AA-From-AA-On-Criteria-Application-2327465>
  
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