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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

  • Published: 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

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- Los Angeles Dept of Wtr & Pwr

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