Eugene, Oregon Eugene Water and Electric Board; Retail Electric Dec 09

  • ID: 1817982
  • December 2009
  • Region: Oregon
  • Standard & Poors
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Standard & Poor's Ratings Services has affirmed its 'AA-' long-term rating and 'AA-' underlying rating (SPUR) on the City of Eugene, Ore's, Ore.'s electric system revenue bonds outstanding ($230 million), issued for Eugene Water and Electric Board (EWEB or the board). The outlook is stable. The rating reflects what we consider the following credit strengths: A strengthened liquidity position, with $98 million, or 175 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 the board's operating risks; EWEB's demonstrated commitment to raise rates including pass-through of all Bonneville Power Administration's (Bonneville or BPA) wholesale cost increases, and with increases...

Companies mentioned in this report are: Eugene Wtr & Elec Brd,Eugene
Action: Affirmed

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Research Type: Full Analysis

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Eugene Wtr & Elec Brd,Eugene

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