Summary: San Diego County Water Authority, California; CP; Water/Sewer Jan 10
Standard & Poors, January 2010
Abstract
Standard & Poor's Ratings Services assigned its 'AA+' rating to San Diego County Water Authority, Calif.'s water revenue bonds $532.59 million series 2010B (taxable Build America Bonds) and $97.955 2010A ( tax-exempt) bonds. At the same time, we affirmed the 'AA+' rating on the authority's $1.43 billion in parity debt and the 'A-1+' rating on its $460 million in commercial paper (CP). The ratings reflect our view of the authority's: Critical role to the San Diego area as a leading agency in the planning of water resource adequacy and long-term water infrastructure planning; Strong board-level commitment to credit features such as financial policies, debt coverage targets, and regular rate increases; A management framework that allows for regular adjustment of rates...
Companies mentioned in this report are:
- San Diego Cnty Wtr Auth
Action: Affirmed
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.
- San Diego Cnty Wtr Auth
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