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Eugene Water and Electric Board, OR's Revenue Bonds Assigned 'AA-' Rating May 08
Standard & Poors, May 2008
SAN FRANCISCO (Standard & Poor's) May 28, 2008--Standard & Poor's Ratings Services assigned its 'AA-' rating to Eugene Water and Electric Board (EWEB), Ore.'s $82.225 million series 2008A electric revenue refunding bonds and $30.035 million series 2008B electric revenue bonds (taxable). At the same time, Standard & Poor's affirmed its 'AA-' underlying rating (SPUR) on all of EWEB's outstanding electric system revenue bonds. The outlook is stable. "The rating reflects EWEB's strengthened liquidity position, with $78 million or 142 days' cash (an eight-year high), and 2008 liquidity estimated at $112 million or 224 days' cash," said Standard & Poor's credit analyst Paul Dyson. "Continued conservatism in EWEB's forecast assumptions and risk management practices -- including contracts with top customers that...
Companies mentioned in this report are: Eugene Wtr & Elec Brd
Action: New Rating
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.
Research type: News
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Eugene Wtr & Elec Brd