Fitch gives AA/F1+ to Utah Water bonds

Fitch Ratings said it assigned a rating of AA/F1+ to the $135.4 million Utah Water Finance Agency series B program revenue bonds (variable-rate demand bonds), series B-3, issued on behalf of the Metropolitan Water District of Salt Lake & Sandy.

The long-term AA rating on the bonds is based on the long-term credit quality of the district. The F1+ short-term rating is based on liquidity support provided by JPMorgan Chase Bank, NA in the form of a standby bond purchase agreement.

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