St. Johns County, FL Series 2022 Water And Sewer Revenue Bonds Assigned 'AAA' Rating; Outlook Stable

NEW YORK (S&P Global Ratings) Sept. 30, 2022--S&P Global Ratings assigned its 'AAA' rating to  St. Johns County (SJCUD), Fla.'s series 2022 water and sewer revenue bonds. At the same time, we affirmed our 'AAA' long-term rating on the county's water and sewer parity water and sewer revenue debt outstanding. The outlook is stable. "The rating reflects the district's well-embedded strategic and financial planning efforts, which have led to financial performance that remains consistent with the 'AAA' rating level, in our view," said S&P Global Ratings credit analyst Alan Shabatay. This is reflected within the long-term financial profile of the utility system and management's practice of continually posting strong financial metrics through consistent rate increases based on the consumer price

...September 30, 2022 NEW YORK (S&P Global Ratings) Sept. 30, 2022--S&P Global Ratings assigned its '###' rating to St. Johns County (SJCUD), Fla.'s series 2022 water and sewer revenue bonds. At the same time, we affirmed our '###' long-term rating on the county's water and sewer parity water and sewer revenue debt outstanding. The outlook is stable. "The rating reflects the district's well-embedded strategic and financial planning efforts, which have led to financial performance that remains consistent with the '###' rating level, in our view," said S&P Global Ratings credit analyst Alan Shabatay. This is reflected within the long-term financial profile of the utility system and management's practice of continually posting strong financial metrics through consistent rate increases based on the consumer price index. The rating also reflects consistent investment in SJCUD's assets that have helped keep rates and debt ratios low. These factors, combined with the large and growing customer base,...

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