Hampton Roads Sanitation District, VA -- Moody's: Hampton Roads Sanitation District's (VA) delayed interest payment has no impact

New York, January 16, 2015 -- On Friday, Jan. 2, 2015, Hampton Roads Sanitation District, VA (Aa2 stable on senior revenue and Aa3 stable on subordinate revenue bonds) was delinquent in making an interest payment of $746.58 on its Subordinate Wastewater Revenue Bonds, Series 2011. According to district management, the mistake was due to an administrative oversight. Although the district initiated the payment on Jan. 2, 2015, the administrative error caused the payment to fail. Upon realizing the error, the district made the full interest payment on the following business day, Monday, Jan. 5, 2015. Moody's believes the payment delay was due to an administrative error, not an impairment of the district's ability to pay and therefore has no impact on the rating.

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