'A-' Rating at York Water.Business Editors YORK, Pa.--(BUSINESS WIRE)--March 15, 2004 On March 12, 2004, Standard & Poor's Ratings Services Ratings Service A company, such as Moody's or Standard & Poor's, that rates various debt and preferred stock issues for safety of payment of principal, interest, or dividends. assigned its 'A-' Corporate Credit Rating to The York Water Company (Nasdaq:YORW) and to the Company's proposed $19.3 million Pennsylvania Economic Development Financing Authority Exempt Facilities Revenue Bonds Series A and B of 2004, with a stable outlook. This is the first time the Company has been rated by Standard & Poor's. Standard and Poor's Noun 1. Standard and Poor's - a broadly based stock market index Standard and Poor's Index attributed its rating to the Company's above average business profile reflective Refers to light hitting an opaque surface such as a printed page or mirror and bouncing back. See reflective media and reflective LCD. of a supportive regulatory environment, a good operational track record and above average market. "We are very pleased with our corporate and debt rating," said York's President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Jeff Osman. "It is necessary for the Company to achieve and maintain a healthy financial profile to continue to meet the needs of our customers." |
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