Fitch gives F1+ to Orlando utility bonds

Fitch Ratings said it assigned an F1+ short-term rating to the Orlando Utilities Commission, Fla.'s $200 million of utility system revenue bonds, series 2008.

The AA long-term rating on the bonds was affirmed at the same time.

The long-term rating was issued on Dec. 11, 2007 when the bonds were expected to sell as fixed-rate bonds, but they will now be issued as variable-rate bonds.

Fitch also said it affirmed the AA rating on all of the commission's outstanding utility system revenue bonds and the outstanding St. Cloud, Fla., sales tax and utility system refunding revenue bonds.

St. Cloud is also served by the Orlando Utilities Commission.

The outlook is stable.

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