Summary: Imperial Irrigation District, California; Combined Utility; Retail Electric May 11

  • ID: 1807539
  • May 2011
  • Region: California
  • Standard & Poors
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Standard & Poor's Ratings Services assigned its 'AA-' rating to Imperial Irrigation District (IID), Calif.'s $78.1 million series 2011B electric system revenue refunding bonds. At the same time, Standard & Poor's affirmed its 'AA-' long-term rating and underlying rating (SPUR) on the district's outstanding bonds secured by a net revenue pledge of the electric enterprise. The ratings reflect our view of: A service area that includes a significant but also diverse agricultural component that adds stability to the district's energy demands; A diverse power resource portfolio, including an increasing renewable energy component that totaled a district-estimated 7.5% of supply in 2010, projected by management to rise to 27% by 2015; Financial margins that remain extremely strong, with senior debt service...

Companies mentioned in this report are:
- Imperial Irr Dist

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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- Imperial Irr Dist

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