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Article: Fitch Affirms Nassau County, FL $16.855MM Water/Sewer Revs 'A-'; Outlook Stable.
- Article from:
- Investment Weekly News
- Article date:
- November 7, 2009
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In the course of routine surveillance, Fitch Ratings affirms its 'A-' rating on the Nassau County, FL (the county) $16.855 million of outstanding water and sewer revenue bonds, series 2003. The Rating Outlook is Stable.
The 'A-' rating reflects the county's stable and sound financial metrics, above average debt levels and a limited service area economy. Despite the existing debt burden, capital needs over the intermediate term are manageable thereby limiting pressures to the system's operating performance. The key rating driver is the system's ability to maintain favorable financial operations including the generation of adequate surpluses to meet capital ...