City of Orem, Utah


CUSIP 68611RBF4
  • Issue Currency: United States of America Dollars
  • Announcement Date: 03-Jul-2018
  • News: Fitch Ratings has upgraded to `AAA` from `AA+` the following Orem, UT (the city) obligations: --Approximately $5.1 million water and storm sewer revenue refunding bonds, series 2016. The Rating Outlook is Stable. SECURITY The bonds are secured by net water and storm sewer system (the system) revenues after payment of maintenance and operations expenses.
CUSIP 68611RBE7
  • Issue Currency: United States of America Dollars
  • Announcement Date: 13-Jul-2018
  • News: Fitch Ratings has upgraded to `AAA` from `AA+` the following Orem, UT (the city) obligations: --Approximately $5.1 million water and storm sewer revenue refunding bonds, series 2016. The Rating Outlook is Stable. SECURITY The bonds are secured by net water and storm sewer system (the system) revenues after payment of maintenance and operations expenses. KEY RATING DRIVERS IMPROVED OPERATING MARGINS DRIVE UPGRADE: Rate increases in recent years have increased operating revenue, improving free cash flow (FCF) that is expected to support increased capital spending and generate debt service coverage over 6.0x. FAVORABLE DEBT PROFILE: Debt metrics are stronger than similarly rated systems and amortization is rapid. The debt burden will continue declining as the city has no plans to issue additional water and storm sewer bonds over the next five years.
CUSIP 68611RBD9
  • Issue Currency: United States of America Dollars
  • Announcement Date: 13-Jul-2018
  • News: Fitch Ratings has upgraded to `AAA` from `AA+` the following Orem, UT (the city) obligations: --Approximately $5.1 million water and storm sewer revenue refunding bonds, series 2016. The Rating Outlook is Stable. SECURITY The bonds are secured by net water and storm sewer system (the system) revenues after payment of maintenance and operations expenses. KEY RATING DRIVERS IMPROVED OPERATING MARGINS DRIVE UPGRADE: Rate increases in recent years have increased operating revenue, improving free cash flow (FCF) that is expected to support increased capital spending and generate debt service coverage over 6.0x. FAVORABLE DEBT PROFILE: Debt metrics are stronger than similarly rated systems and amortization is rapid. The debt burden will continue declining as the city has no plans to issue additional water and storm sewer bonds over the next five years.



Data Unleashed

All of the Municipal Disclosure provided on MuniAlerts are sourced from FactEntry.


This site best viewed in the latest version of Google Chrome or Firefox.
© FactEntry 2024