(PR-inside.com) Fitch Ratings assigns an 'AA+' rating to $22.9 million City of Arvada, Colorado's (the city) water enterprise revenue refunding bonds, series 2009. In addition, Fitch affirms the 'AA+' rating on the city's $22.6 million of outstanding parity bonds. These bonds will be redeemed with the new refunding bonds. The bonds are secured by a senior lien of net revenues of the city's water system (the system). The Rating Outlook is Stable. The 'AA+' rating reflects the system's sound financial results, manageable capital improvement program (CIP), low leverage ratios, adequate rate flexibility, and favorable service area. Operating performance is consistently strong and ..
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