Standard & Poor's Ratings Services affirmed the following ratings for East Bay Municipal Utility District (EBMUD), Calif.: Our 'AAA' long-term rating and underlying rating (SPUR) on the district's water system subordinated water revenue refunding bonds; Our 'A-1+' short-term rating on the district's series 2009A-1 and series 2009A-2 water system subordinated water revenue refunding bonds; and Our 'A-1+' short-term rating on the district's extendible commercial paper (ECP) notes (water series). The outlook on the long-term rating and SPUR is stable. A subordinate pledge of net water revenues secures the subordinated water revenue and refunding bonds. There are no senior bonds outstanding, and the district has covenanted pursuant to the indenture that it will not issue additional senior water bonds. As such,...
Companies mentioned in this report are:
- East Bay Mun Util Dist
Action: Outlook: Stable
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included. SHOW LESS READ MORE >