Fitch Rates St. Petersburg, FL's Utility Revs -2-
Now - BusinessWire via Dow Jones News
Financial operations have been healthy, supported by sound fiscal oversight and annual incremental rate increases. DSC levels have weakened from previous high levels with the issuance of additional debt over the past several years, although coverage is solid for the rating. In fiscal 2013, DSC on the senior bonds was near 2x, and coverage totaled 1.8x including subordinate lien state revolving fund payments. However, Fitch notes coverage of all fixed charges, including transfer payments to t...