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Article: Fitch Affirms Orlando, Florida's $50.41MM Wastewater System Revs at 'AA+'; Outlook Stable.
- Article from:
- Investment Weekly News
- Article date:
- November 14, 2009
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In the course of routine surveillance, Fitch Ratings affirms its 'AA+' rating on Orlando, Florida's $50.41 million of outstanding wastewater system revenue bonds. The Rating Outlook is Stable.
The 'AA+' rating reflects the wastewater system's (the system) strong and stable financial performance, diverse revenue streams pledged to bondholders, balanced against relatively large capital needs, and strong but concentrated service area economics. Despite additional borrowing plans over the next few years, credit metrics are expected to remain favorable. While the rate base is sufficiently large, the service area economics remain concentrated in tourism.
The ...