SUSTAINED PERFORMANCE: The rating on Jacksonville Beach, FL's utility revenue bonds
reflects Fitch's expectation that the utility will sustain currently strong financial metrics and leverage.
These are --$514.6 million senior lien public utility revenue bonds
at 'AA'; and --$2.2 billion subordinate lien public utility revenue and refunding bonds at 'AA-'.
--Approximately $5,165,000 electric utility revenue bonds
, series 2015A.
In addition to the utility revenue bonds
, the system's debt obligations included an $58 million liability related to an unconditional Lavaca-Navidad River Authority water-rights contract (payable as an O&M expense) and $50 million of U.S.
Proceeds will be used to improve and extend the water and sewer systems (the system), refund the MPC's series 2007 water development fee and subordinate lien water utility revenue bonds, and pay issuance costs.
--$92.59 million outstanding water system development fee and subordinate lien water utility revenue bonds, series 2007 (pre-refunding) at 'AA'.
Fitch rates the city's senior and subordinate lien electric utility revenue bonds
New York: Issue: Utility Revenue Bonds
, Series 2016A; Rating: Aa1; Sale Amount: $16,565,000; Expected Sale Date: 03/22/2016; Rating Description: Revenue: Government Enterprise