Summary: West Knox Utility District, Tennessee; Water/Sewer

S&P Global Ratings has assigned its 'AA+' long-term rating to West Knox Utility District, Tenn.'s series 2018 water and sewer revenue bonds. At the same time, we affirmed our 'AA+' long-term rating on the district's outstanding revenue bonds and on the Sevier County Public Building Authority's series V-B-1 local government public improvement bonds, issued on behalf of the district. The series V-B-1 bonds are payable from revenue received through a loan agreement with the district. The outlook is stable. The rating reflects the combination of very strong enterprise and financial risk profiles. The enterprise risk reflects our view of the district's water and sewer system, which includes: An economically strong and growing service area, which serves as an employment anchor

...S&P Global Ratings has assigned its '##+' long-term rating to West Knox Utility District, Tenn.'s series 2018 water and sewer revenue bonds. At the same time, we affirmed our '##+' long-term rating on the district's outstanding revenue bonds and on the Sevier County Public Building Authority's series V-B-1 local government public improvement bonds, issued on behalf of the district. The series V-B-1 bonds are payable from revenue received through a loan agreement with the district. The outlook is stable. The rating reflects the combination of very strong enterprise and financial risk profiles. The enterprise risk reflects our view of the district's water and sewer system, which includes: + An economically strong and growing service area, which serves as an employment anchor for an eight-county area in eastern Tennessee; + Very low industry risk as a monopolistic service provider of an essential public utility; + A good market position assessment as the combined water and sewer rates are...

Summary