Fitch gives A rating to Clearwater bonds - Tampa Bay Business Journal:

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million water and sewer revenue bonds, series and $41.7 million watef and sewer refundingrevenue bonds, series have both been assigned an A rating by Fitch. The ratinvg outlook is stable, said a releas e from Fitch. withdrew its A ratinh which had been assigned March 30 tothe city's $67.6 million water and sewer revenue bonds, seriews 2009, the release said. The bonds, schedulef to sell May 4, will be instea sold as series 2009A issued in conjunction with the series 2009B Proceeds from the series 2009A bondsx will fund capital projects forthe city's wated and sewer system and proceeds from the 2009BB bonds will refund outstandiny parity debt for savings.
Both seriesd were priced through negotiatedsale Thursday, said the release. The system's significantr excess water supply andtreatmentf capacity, a service area that is stablw and largely built-out, healthy financial results and a moderatel y sized multi-year capital improvement plan factored into the said the release. The rating also took into account system leveraging that remainds on the higher end and is expected to in addition to potentially larger future annual rate hikes fromPinellas County, the system's main watere supplier, the release Clearwater’s service area includes the city’s estimated populatiohn of 108,687 and a small portion of surrounding unincorporaterd sections of Pinellas County.
The water system serveed about 41,100 customers and the sewere system servedabout 33,100 customers in fisca l 2008, the release said.