Fitch Affirms Columbus, OH's Sewer Revs at 'AA/F1+'; Outlook Stable

ROBUST LIQUIDITY, WEAK CASH FLOWS: System liquidity is very strong at 805 days cash on hand in fiscal 2014 and is forecast to remain strong over the next five years. However, annual free cash flow and all-in debt service coverage is limited, requiring capital needs to be funded with existing cash or additional debt.