Utah Bonds (Utah Municipal Bonds)

By: EconomyWatch Content   Date: 3 November 2009

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Utah bonds are municipal bonds issued by the state government or various government agencies. The potential issuers of these Utah municipal bonds could include:

  • Cities within Utah

  • Counties

  • Redevelopment agencies, such as Electricity board and Water board

  • School districts

  • Publicly-owned airports

  • Other governmental entities below the state level 

Popular Utah Bonds

While there are numerous Utah bonds available in the market, some of the bonds with attractive safety profile are:

  • Utah Housing Corporation 2009 series B single-family mortgage bonds: These bonds were issued by Utah Housing Corporation and were available as class I variable-rate and class I fixed-rate bonds. While the class I variable-rate bonds were assigned an AAA/F1+ rating by Fitch Ratings in July 2009, the fixed-rate bonds received an AAA rating, reflecting their attractive safety profile. Fitch Ratings had also reiterated its rating of AAA for a similar 2008 series A through E and 2007 series B through H class I bonds issued by the agency.

  • Utah Higher Education Assistance Authority (UHEAA) bonds: UHEAA consists of three separate and distinct higher education financial assistance programs, one of which is the Loan Purchase Program (LPP). LPP was established to provide funds to lending institutions that could be used to assist students in obtaining higher education. Through the LPP program, the board issues student loan revenue bonds to generate capital.

  • Taylorsville sales tax revenue bonds: Issued by the local government of the Taylorsville city in Utah, these 8.9 million outstanding bonds had received an AA rating by Fitch Ratings on October 27, 2009. The ratings outlook for these bonds was stable. The rating reflected robust debt service coverage on the bond, strength in Taylorsville’s underlying local economy and the city's low debt burden and limited capital requirement.

  • Utah State Board of Regents' student fee and housing revenue refunding bonds series 2009: Issued on behalf of the Utah State University, these bonds had received an AA long-term rating and a stable outlook from Standard & Poor's Ratings Services in September 2009. Meanwhile, the rating agency affirmed its AA rating on the university's outstanding series 2004, 2004A&B and 2007 student fee and housing revenue bonds and series 2002A research revenue bonds, based on a moral obligation from the state.


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