BPUB Financials Given High Marks by S&P, Moody’s
The financial outlook for the Brownsville Public Utilities Board looks good, according to recent ratings by Moody’s Investors Service and Standard & Poor’s Ratings Services.
S&P assigned an “A+” rating to BPUB’s series 2015 senior-lien utility system revenue refunding bonds as well as BPUB’s parity utility revenue bonds. S&P also affirmed its “A” underlying rating on BPUB’s junior-lien revenue bonds. The outlook was listed as stable.
The S&P report cited the strong financial performance of the electric, water and wastewater systems; the very proactive and forward-looking actions supported by management in relation to finances and operations; and Brownsville’s role as an economic center for the Rio Grande Valley area.
Moody’s Investors Service assigned an A2 rating with a stable outlook to BPUB’s revenue bonds. The Moody’s report cited BPUB’s strong liquidity profile; historically strong and relatively stable financial performance; low historical leverage; and proactive efforts to bolster its financial performance.