|
|
 |
|
Viewing report
|
|
|
|
Benicia, CA, Assigned 'AA-' ICR; Series 2011 COPs Assigned 'A+' Rating Mar 11
Standard & Poors, March 2011
Abstract
SAN FRANCISCO (Standard & Poor's) March 10, 2011--Standard & Poor's Ratings Services assigned its 'AA-' issuer credit rating (ICR) to Benicia, Calif. In addition, Standard & Poor's assigned its 'A+' long-term rating to the Public Property Financing Corp. of California's series 2011 certificates of participation, issued on behalf of the city. The outlook on both ratings is stable. 'The ratings reflect our view of such factors as the city's expenditure reductions, track record of very strong available general fund balances, and good financial policies and practices,' said Standard & Poor's credit analyst Chris Morgan. The series 2011 proceeds will fund the installation of solar electricity generating infrastructure that the city believes will provide net savings on utility costs. The stable...
Companies mentioned in this report are: Benicia,California Pub Prop Fincg Corp
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.
|
|
|
|
