Linden Utility gets good credit mark

Published 7:48 pm Friday, February 3, 2012

LINDEN — Linden Utility Board has earned an “A+/Stable” credit rating from Standard & Poor’s. This is the first time that the Board has sought or received a rating from a credit agency.

The very strong, investment grade rating will allow Linden Utility Board to access the bond and bank markets at lower rates than many other Boards.

Linden Utility Board is the smallest system in the State of Alabama with an “A+” rating.

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Reasons specifically cited for the positive rating are the fact that the Linden Utility Board maintains a “very strong financial position” and has numerous positive economic development activities and development in the City, according to the S&P “Global Credit Portal” report for the Linden Utility Board, issued on Jan. 25.

The “stable” outlook by Standard and Poor’s was earned by the fact that, “Linden’s financial position has been very strong historically despite the national recession.”

The report specifically cites the competitive rates, good water supply, adequate wastewater treatment and the potential for growth.

Cheryl C. Hall represented the Board and City in the presentation to Standard and Poor’s. Hall received assistance from Randy Rushton of The Frazer Lanier Company investment banking company.