Summary: Monroe, Louisiana; Water/Sewer

S&P Global Ratings assigned its 'A' long-term rating to Monroe, La.'s series 2018 water revenue bonds. The rating reflects, in our opinion, the combination of a strong enterprise risk profile and a very strong financial risk profile. The outlook is stable. The enterprise risk profile reflects our view of the utility system's: Rural and agricultural local area economy with somewhat limited opportunities; Relatively weak, yet stable, customer base, consisting primarily of rural residential users; Rates that we view as somewhat high when compared to regional peers; and What we view as standard overall operational management practices. The financial risk profile reflects our view of the utility system's: Expected consistently extremely strong all-in debt service coverage (DSC); Strong liquidity position; What

...S&P Global Ratings assigned its 'A' long-term rating to Monroe, La.'s series 2018 water revenue bonds. The rating reflects, in our opinion, the combination of a strong enterprise risk profile and a very strong financial risk profile. The outlook is stable. The enterprise risk profile reflects our view of the utility system's: + Rural and agricultural local area economy with somewhat limited opportunities; + Relatively weak, yet stable, customer base, consisting primarily of rural residential users; + Rates that we view as somewhat high when compared to regional peers; and + What we view as standard overall operational management practices. The financial risk profile reflects our view of the utility system's: + Expected consistently extremely strong all-in debt service coverage (DSC); + Strong liquidity position; + What we view as generally standard financial management practices; and + Debt levels which we view as somewhat high when compared to regional peers. The proceeds from the bonds...

Summary