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Los Angeles Department of Water and Power, CA, Power System Revenue Bonds 2011A Rated 'AA-'; Other Ratings Affirmed Jun 11 Product Image

Los Angeles Department of Water and Power, CA, Power System Revenue Bonds 2011A Rated 'AA-'; Other Ratings Affirmed Jun 11

  • ID: 1823294
  • June 2011
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) June 13, 2011--Standard & Poor's Ratings Services has assigned its 'AA-' long-term rating to Los Angeles Department of Water and Power (LADWP), Calif.'s power system revenue bonds, series 2011A. At the same time, Standard & Poor's affirmed its 'AA-' long-term and underlying ratings on the department's parity power system revenue bonds and its 'A-1+' short-term rating on the utility's $200 million power system revenue commercial paper (CP) notes. The outlook on the long-term ratings is stable. "In part, the ratings reflect our opinion of LADWP's large customer base, sound financial metrics after accounting for direct debt and off-balance-sheet financial commitments, financial flexibility from competitive retail electric rates, and strong liquidity," said Standard & Poor's credit...

Companies mentioned in this report are:
- Los Angeles Dept of Wtr & Pwr

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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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