Fitch assigns AA to Eugene, Ore., water bonds

Fitch Ratings said it assigned an AA rating to the Eugene Water and Electric Board, Ore.'s $15.6 million water revenue bonds.

Fitch also affirmed its AA rating on $25.5 million of outstanding parity water revenue bonds. The outlook is stable.

Proceeds of the series 2008 bonds will be used to fund a portion of the utility's new 10-year capital improvement plan that will repair and replace much of the aging system infrastructure. The series 2008 bonds will be fixed-rate bonds structured with level debt service and a 25-year amortization.

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