- Language: English
- 85 Pages
- Published: December 2010
- Region: Egypt
Summary: Imperial Irr Dist, CA; Utility, Retail Electric Oct 03
- Published: October 2003
- Standard & Poors
The 'A+' rating on the Imperial Irrigation District, Calif.'s pension obligation bonds reflects the general creditworthiness of the district's combined electric and water departments. Debt service payments on the bonds are treated as operating and maintenance (O&M) expenses of the two departments, allocated 51.5% to the electric system and 48.5% to the water system. The general creditworthiness of the combined departments reflects: Good financial performance (electric system rev bonds rated 'A+/stable'; water revenue bonds rated 'A/stable'); An energy cost adjustment charge, determined on a monthly basis, to pass along increased fuel costs to electric customers; Sound financial policies, which include a 1.70x debt service coverage (DSC) target for electric revenue bonds and 1.30x DSC target for water revenue bonds; Competitive...
Companies mentioned in this report are: Imperial Irr Dist
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Imperial Irr Dist