- Published: May 2012
- Region: United States
Summary: Modesto Irrigation District Financing Authority Modesto Irrigation District; Retail Electric May 10
- Published: May 2010
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'A+' rating to the Modesto Irrigation District Financing Authority, Calif.'s series $100 million series 2010A and B electric system revenue bonds, issued on behalf of Modesto Irrigation District. Standard & Poor's also affirmed its 'A+' rating on the authority's parity debt, also issued on behalf of the district. The rating reflects our view of the district's: Expanding service area economy that retains a strong core of agricultural employers; Diverse supply of owned and generated, and purchased power, resources; Management policies that support financial metrics and power purchase decision making; and Adopted rate increases of 22% in 2009 that we expect will enable the district to return to strong financial margins. Partially offsetting the...
Companies mentioned in this report are: Modesto Irr Dist Fin Auth,Modesto Irr Dist
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >
Modesto Irr Dist Fin Auth,Modesto Irr Dist