TITLE

Seattle Waste Upgraded

AUTHOR(S)
Kelemen, Jasmina
PUB. DATE
March 2005
SOURCE
Bond Buyer;3/4/2005, Vol. 351 Issue 32083, p35
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article focuses on the upgradation of Seattle solid-waste revenue bonds to Aa3 from Al by the Moody's Investors Service Inc. The upgrade affects $25.46 million of bonds issued in 1999. Moody's in its report said that credit strengths include the system's strong service area — which includes all of Seattle — low debt burden and availability of the city's ample cash reserves. Though the system's operating reserves are at twice the target policy, they remain low to comparable systems nationwide. As a result, access to the city's large cash pool provides an important credit boost.
ACCESSION #
16314309

 

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