Eugene Water and Electric Board, OR's Revenue Bonds Assigned 'AA-' Rating May 08

Standard & Poors, May 2008

Abstract
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: Affirmed
Action: New Rating

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Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

Eugene Wtr & Elec Brd

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