S&P lifts Fort Smith, Ark., water and sewer bonds to A

Standard & Poor's said it raised its standard long-term rating and underlying rating to A from A- on Fort Smith, Ark.'s water and sewer revenue bonds, affecting about $170 million of bonds.

At the same time, S&P said it assigned an A standard long-term rating to Fort Smith's $120.2 million of series 2008 water and sewer revenue bonds.

The upgrades reflect the recent adoption of rate increases, a clearer identification of system capital needs and improving coverage levels, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.