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Imperial Irrigation District, California; Combined Utility; Retail Electric May 11 Product Image

Imperial Irrigation District, California; Combined Utility; Retail Electric May 11

  • ID: 1819439
  • May 2011
  • Region: California
  • Standard & Poors

Standard & Poor's Ratings Services assigned its 'AA-' rating to Imperial Irrigation District (IID), Calif.'s $78.1 million series 2011B electric system revenue refunding bonds. At the same time, Standard & Poor's affirmed its 'AA-' long-term rating and underlying rating (SPUR) on the district's outstanding bonds secured by a net revenue pledge of the electric enterprise. The ratings reflect our view of: A service area that includes a significant but also diverse agricultural component that adds stability to the district's energy demands; A diverse power resource portfolio, including an increasing renewable energy component that totaled a district-estimated 7.5% of supply in 2010, projected by management to rise to 27% by 2015; Financial margins that remain extremely strong, with senior debt service...

Companies mentioned in this report are: Imperial Irr Dist
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: Full Analysis

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