Columbia County, Ga., Upgraded to AAA by Fitch

Fitch Ratings said it upgraded the rating on Columbia County, Ga.'s $69.7 million water and sewerage revenue bonds (subordinate lien) from AA-plus to AAA.

In addition, Fitch affirmed the county's $12.1 million water and sewerage revenue bonds (senior lien) at AAA.

The rating outlook is stable.

The senior lien bonds are secured by a pledge of and first lien on the net revenues of the combined water and sewer system (the system). The series 2010 and 2011 bonds are secured by a pledge of and lien on the net revenues of the system, subordinate to the senior lien revenue bonds. The senior lien is closed.

The upgrade reflects sustained solid financial performance. Net revenues have consistently provided very strong total debt service coverage; continued rate increases and level debt service payments will sustain strong all-in coverage levels over the foreseeable future. Liquidity is excellent and high unrestricted cash balances continue to strengthen.

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