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'AA+' Rating Assigned To Contra Costa Water District, CA's Revenue Bonds And Mezzanine Notes; Rating On CP Withdrawn Jun 11
Standard & Poors, June 2011
Abstract
SAN FRANCISCO (Standard & Poor's) June 10, 2011-- Standard & Poor's Rating Services assigned its 'AA+' long-term rating to Contra Costa Water District, Calif.'s $109 million series P water revenue refunding bonds. Standard and Poor's also assigned its 'AA+' long-term rating to the district's $60 million series B mezzanine-lien water revenue notes. At the same time, Standard & Poor's affirmed its 'AA+' long-term and underlying rating (SPUR) on the district's outstanding senior-lien revenue bonds and mezzanine-lien revenue notes. The outlook on all bonds is stable. Finally, Standard & Poor's withdrew its rating on the district's commercial paper (CP) notes. There are currently no CP notes outstanding and there is no longer a line of credit backing the CP program. 'The...
Companies mentioned in this report are: Contra Costa Wtr Dist
Action: New Rating
Action: Outlook: Stable
Action: Withdrawn
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: 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.
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