Village of Osceola
CUSIP 688120GD0
- Issue Currency: United States of America Dollars
- Announcement Date: 12-Jun-2018
- News: The Village of Osceola`s water system (Baa2 stable) is challenged by depleted reserves and limited rate setting authority. The enterprise also has a modestly-sized service area with low resident income levels, and adequate debt service coverage. These credit challenges are balanced against a low debt ratio and the recent 3% rate increase that should modestly improve operations. Positively, the village continues to work with the Public Service Commission (PSC) on future rate increases and maintains solid legal provisions. On June 11, 2018, we downgraded the system`s revenue rating to Baa2 from Baa1. The outlook is stable.
- Issue Currency: United States of America Dollars
- Announcement Date: 12-Jun-2018
- News: The Village of Osceola`s water system (Baa2 stable) is challenged by depleted reserves and limited rate setting authority. The enterprise also has a modestly-sized service area with low resident income levels, and adequate debt service coverage. These credit challenges are balanced against a low debt ratio and the recent 3% rate increase that should modestly improve operations. Positively, the village continues to work with the Public Service Commission (PSC) on future rate increases and maintains solid legal provisions. On June 11, 2018, we downgraded the system`s revenue rating to Baa2 from Baa1. The outlook is stable.
- Issue Currency: United States of America Dollars
- Announcement Date: 12-Jun-2018
- News: The Village of Osceola, WI (Baa1 stable) continues to see financial challenges due to weak liquidity and enterprise risk that are compounded by its limited tax base and operations. Other credit pressures include high leverage from debt and below average resident income indices. Positively, the village benefits from its proximity to the Twin Cities metro area and is poised to see a slight improvement in reserves given receipt of one time revenues in fiscal 2018. On June 11, 2018, we downgraded the village`s general obligation unlimited tax (GOULT) rating to Baa1 from A3. We also downgraded the village`s lease revenue rating to Baa3 from Baa1. The outlook is stable.
