CUSIP 235586CF9

  • ISIN: US235586CF96
  • Entity Name: City of Dalton, Georgia
  • Sector: Municipal
  • Announcement Date: *****
  • Effective Date: *****
  • Issue Date: *****
  • Maturity Date: *****
  • Country of Issuer: *****
  • Region: N.Amer
  • Issue Currency: *****
  • CA Type: Rating Downgrade
  • News: S&P Global Ratings has lowered its issuer credit rating (ICR) on Dalton, Ga., and its rating on Dalton`s combined utilities bonds to `A-` from `A`. The outlook is negative. ""The downgrade reflects the application of our ""U.S. Municipal Retail Electric And Gas Utilities (/en_US/web/guest/article/-/view/sourceId/10570235)"" criteria published S ept. 27, 2018,"" said S&P Global Ratings credit analyst Jeff Panger. Among other factors, these consider increasing costs related to construction of the Vogtle nuclear units 3 and 4, and Dalton`s plans to add a major new customer, which would exacerbate the risks associated with serving an already concentrated customer base. The negative outlook reflects the potential for additional delays and cost overruns associated with the Vogtle Units 3 and 4 nuclear project (currently under construction, but substantially behind schedule and over budget), as well as the exposures of serving a customer that will add significantly to concentration.
  • Description: *****
  • Bond Document:
  • Latest Corporate Actions:

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