LUS Fiber this week announced that Standard & Poor’s has updated its bond rating from "A" to “A+” with a stable outlook.
LUS Fiber, which is in its 6th year of operation, says in a prepared statement that the stable outlook reflects S&P’s expectation that its strong financial profile is sustainable. The increase results in a one-notch ratings differential.
S&P’s ratings are expressed opinions about credit risk of the organization’s ability to meet its financial obligations on time and in full, LUS Fiber notes in the release. According to a statement released by Standard & Poor’s Ratings Services, the upgrade reflects S&P’s view of the utilities system’s sustained strong fixed charge coverage and liquidity levels, and the communication system’s improved cash flow.
The communications system’s strong performance also led Standard & Poor’s to upgrade the LUS combined utility revenue bonds for its electric, water and wastewater system “ from “A+” to "AA-.”