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Summary: Upper Santa Clara Valley Joint Powers Authority, California Santa Clarita Water Division; Water/Sewer Aug 11
Standard & Poors, August 2011
Standard & Poor's Ratings Services assigned its 'AA' long-term rating to Upper Santa Clara Valley Joint Powers Authority, Calif.'s series 2011A refunding revenue bonds, issued for the Santa Clarita Water Division. At the same time, we affirmed our 'AA' long-term rating on Castaic Lake Water Agency, Calif.'s series 2010B retail system revenue certificates of participation, also issued for the Santa Clarita Water Division. The outlook on the bonds and certificates is stable. The rating reflects our view of Santa Clarita Water Division's: Predominantly residential ratepayer base that participates in the deep and diverse greater Los Angeles metropolitan area economy; Strong debt service coverage (DSC), which is further supported by rate increases that have been approved through fiscal 2012; and A...
Companies mentioned in this report are: Santa Clarita Water Division,Castaic Lake Wtr Agy,Upper Santa Clara Vy Jt Pwrs Auth
Action: New Rating
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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.
Santa Clarita Water Division,Castaic Lake Wtr Agy,Upper Santa Clara Vy Jt Pwrs Auth