Sacramento Mun Util Dist, CA Senior-Lien Rev Bond Rating, SPUR Raised To 'A+'; Subordinate-Lien Bond SPUR Raised To 'A' Apr 09
- ID: 1887333
- April 2009
- Standard & Poors
SAN FRANCISCO (Standard & Poor's) April 28, 2009--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 outlook is stable. "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," said Standard & Poor's credit analyst Paul Dyson. In...
Companies mentioned in this report are:
- Sacramento Mun Util Dist
Action: New Rating
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Research type: News
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