NEW YORK (Standard & Poor's) Nov. 11, 2010--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 2010D and 2010E. 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 notes. The outlook on the long-term ratings is stable. "The department's large base of 1.4 million customers provides what we view as a diverse and stable revenue stream," said Standard & Poor's credit analyst Peter Murphy. "We believe other factors supporting the ratings include sound financial metrics...
Companies mentioned in this report are:
- Los Angeles Dept of Wtr & Pwr
Action: New Rating
Action: Outlook: Stable
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