Standard&Poor's Ratings Services raised its long-term rating and underlying rating (SPUR) on DeKalb-Jackson Water Supply District Inc., Ala.'s utility revenue debt one notch to 'A' from 'A-'. The outlook is stable. The upgrade reflects Standard&Poor's opinion of the recently consolidated system, which maintained good debt service coverage (DSC) and liquidity in fiscal 2014, reflecting a more-stable financial profile. The rating reflects our opinion of the district's: Relatively small customer base and limited rural-based local economy with below-average income; Willingness to adjust rates to maintain good DSC and strong liquidity; Above-average rates, limiting revenue-raising flexibility; and Moderately high debt. Pledged waterworks and distribution system net revenue secures the bonds. Officials used series 2013A bond proceeds to fund
