BRADENTON, Fla. – The triple-B ratings assigned to Jefferson County, Ala.’s $1.7 billion sewer warrant deal should be considered “borderline non-investment grade,” Standard & Poor’s analyst James Breeding explained in a webcast Thursday.

S&P gave a preliminary BBB rating to $500 million of senior sewer warrants and a BBB-minus rating to $1.2 billion of subordinate warrants on Nov. 6, raising questions by some market experts about how the county qualified for an investment-grade score.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.