Fitch rates Kissimmee Utility reoffering AAA/F1+

Fitch Ratings said it confirmed the AAA long-term rating and assigned an F1+ short-term rating to the $60.7 million series 2003 subordinate electric system refunding revenue bonds issued by Kissimmee Utility Authority, Fla.

The actions were taken in connection with conversion of the interest rate on the bonds from an M-STARS rate mode to a weekly rate mode, the provision of a standby bond purchase agreement by Dexia Credit Local and the reoffering of the bonds.

The bonds, which mature Oct. 1, 2018, are to be reoffered on July 17.

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