Sacramento Municipal Utility District, California; Retail Electric Apr 09
- ID: 1887286
- April 2009
- Region: California
- Standard & Poors
Standard & Poor's Ratings Services raised its rating and underlying rating (SPUR) to 'A+' from 'A' on Sacramento Municipal Utility District (SMUD), Calif.'s outstanding senior-lien revenue bonds, and raised its SPUR to 'A' from 'A-' on the district's outstanding subordinate-lien revenue bonds. In addition, Standard & Poor's assigned its 'A+' rating to SMUD's $200 million series 2009V senior-lien electric revenue bonds. The raised ratings reflect our view of the district's continued strong and stable financial performance, its demonstrated willingness and ability to adjust rates to recover costs and maintain strong margins, its favorable resource portfolio, and its significant rate flexibility. The 'A+' senior-lien rating and SPUR additionally reflect our opinion of: The district's sound business strategy, which includes a focus...
Companies mentioned in this report are:
- Sacramento Mun Util Dist
Action: New Rating
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Research Type: Full Analysis