Standard & Poor's Ratings Services said it raised its underlying rating on South Blount County Utility District, Tenn.'s waterworks revenue debt one notch to A-plus from A.
The outlook is stable.
The upgrade reflects Standard & Poor's opinion of the district's maintenance of its consistently strong financial profile.
"While not likely to occur within our two-year outlook period, significant deterioration in debt service coverage and liquidity without proper rate adjustments could lead us to lower the rating," said Standard & Poor's credit analyst Jose Razo. "We, however, believe service area income and debt currently preclude a higher rating."
