Hendersonville Utility District, Tenn., Upgraded to AA by S&P

Published June 03, 2015, 12:15 p.m. EDT

1 Min Read

Standard & Poor's Ratings Services said it raised to AA from AA-minus its rating on Hendersonville Utility District, Tenn.'s parity revenue bonds.

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The outlook is stable.

The agency also assigned a AA rating to the district's series 2015 revenue refunding bonds.

"The upgrade is based on what we view as a strong financial risk profile that is likely sustainable given that the largest and only debt-funded project in the district's capital improvement plan — a water treatment plant — has been completed," said Standard & Poor's credit analyst Theodore Chapman.

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