Dec 05 - U.S. water & sewer utilities overall appear well positioned to continue generating solid financial performance to bondholders throughout the current economic cycle, according to a new report issued by Fitch Ratings today.
‘The medians continue to point to ongoing capital pressures, but perhaps more importantly in the current economic climate, they highlight the water & sewer sector’s sustained fiscal health,’ said Doug Scott, Managing Director. ‘All key financial ratios improved across all classes of water and sewer utilities.’
Debt service coverage increased slightly from 2012, ending a three-year slide. Liquidity also rose to the highest levels of historical median results. Cash flows improved but remained insufficient to meet renewal needs on a pay-go basis. Fitch says key debt ratios rose from 2012, but planned capital spending remains flat.
Fitch will host a teleconference on Friday, Dec. 7th at 2pm EST to discuss highlights of both the 2013 water & sewer medians and outlook reports.
Dial-in details are:
--Date: Friday Dec. 7, 2012
--Time: 2:00pm EST
--U.S. Participants: +1-877-467-8597
--International Participants: +1-706-643-6296
--Conference and Replay ID: 73932486
--Replays will be available for 30 days.
Replay dial-ins are accessible using the following numbers:
--U.S. Replay: +1-855-859-2056
--International Replay: +1-404-537-3406
Link to Fitch Ratings’ Report: 2013 Water and Sewer Medians