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Summary: Eugene Water and Electric Board, Oregon; Retail Electric Dec 07
Standard & Poors, December 2007
Standard & Poor's Ratings Services affirmed its 'AA-' underlying rating (SPUR) on all of Eugene Water and Electric Board (EWEB), Ore.'s outstanding electric system revenue bonds. The rating reflects the following credit strengths: Continued strong liquidity with in fiscal 2006, with $58 million or 97 days' cash (a seven-year high), and 2007 liquidity estimated at $74 million or 130 days' cash; Continued conservatism in EWEB's forecast assumptions and risk management practices designed to reduce both revenue volatility and uncertainty, including contracts with top customers that are structured to reduce EWEB's operating risks; EWEB's demonstrated commitment to raise rates in order to recover costs, as exhibited by a series of adopted rate increases that took effect beginning in fiscal 2001, with...
Companies mentioned in this report are: Eugene Wtr & Elec Brd
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Eugene Wtr & Elec Brd