Standard & Poor's Ratings Services said it lowered its long-term rating one notch to A from A-plus on Brent Utilities Board, Ala.'s water and sewer revenue debt.
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The outlook is negative.
"The lowered rating reflects our view of the board's weakening financial profile since fiscal 2011," said Standard & Poor's credit analyst Todd Spence. "The negative outlook is based on our expectation that net revenues for 2014 may remain consistent with fiscal 2013 levels," Spence added.
Brent, with a population estimate of about 5,000, is in Bibb Count, about 37 miles southeast of Tuscaloosa, Ala. The local economy is primarily based on agriculture.
