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Summary: Modesto Irrigation District, California; Retail Electric Jul 11 Product Image

Summary: Modesto Irrigation District, California; Retail Electric Jul 11

  • Published: July 2011
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'A+' long-term rating to Modesto Irrigation District, Calif.'s $109.11 million series 2011A and $18.46 million series 2011B (taxable) electric system revenue refunding bonds. Standard & Poor's also affirmed its 'A+' long-term rating and underlying rating (SPUR) on the district's previously issued bonds and on the Modesto Irrigation District Financing Authority, Calif.'s parity debt issued on behalf of the district. The outlook on all ratings is stable. The ratings reflect our view of the district's: Diverse and relatively stable service area economy that retains a strong core of agricultural employers; Diverse supply of owned, generated, and purchased power resources, including a growing renewable energy component that totals 26% of all resources, up from 18%...

Companies mentioned in this report are: Modesto Irr Dist,Modesto Irr Dist Fin Auth
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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Modesto Irr Dist,Modesto Irr Dist Fin Auth

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