S&P Global Ratings assigned its 'A+' long-term rating to Utah Infrastructure Agency's (UIA) $7.505 million series 2019 telecommunications, franchise, and sales tax revenue bonds issued for the city of West Point. The outlook is stable. The bonds are limited obligations of UIA payable from its revenue attributable to the ownership and operation of the UIA-West Point Component Network. This revenue includes the city's portion of the service fees and the hook-up lease revenue received as defined under the 2019 service contract between West Point and UIA. Pursuant to the 2019 service contract, West Point has also pledged its franchise tax revenue that consists of a municipal energy sales and use tax (MESUT) levied on taxable gas and electricity as well
