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Article: United States : New Braunfels Utility System bond issue earns AA.
- Article from:
- TendersInfo
- Article date:
- October 5, 2009
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New Braunfels Utility System is planning to sell $10 million worth of utility system revenue bonds later this month.
Proceeds from the bond sale will be used to reimburse the City of New Braunfels for certain capital expenditures related to the purchase of water rights. The bonds will be repaid by a net revenue pledge of the combined utility systems. The bonds are slated to be sold the week of Oct. 29, 2009.
Fitch Ratings has assigned an AA- rating to the New Braunfels Utility System revenue bonds. The rating outlook is stable. Fitch also affirms the utility s $26 million in outstanding utility system revenue bonds.
The strong rating reflects ...