Sacramento Municipal Utility District, CA's Series 2010W Electric Revenue Bonds Assigned 'A+' Rating Jul 10
Standard & Poors, July 2010
Abstract
SAN FRANCISCO (Standard & Poor's) July 12, 2010--Standard & Poor's Ratings Services assigned its 'A+' rating to Sacramento Municipal Utility District (SMUD), Calif.'s series 2010W electric revenue bonds (Build America Bonds). In addition, Standard & Poor's affirmed its 'A+' rating and underlying rating (SPUR) on the district's outstanding senior-lien revenue bonds and its 'A' SPUR on the district's outstanding subordinate-lien revenue bonds. The outlook on all ratings is stable. "The ratings reflect our opinion of the district's demonstrated willingness and ability to adjust rates to recover costs and maintain strong margins, favorable resource portfolio, good coverage of senior and subordinated debt service in 2009, strong reserve levels, and strong risk management and hedging procures, particularly concerning its gas supply for...
Companies mentioned in this report are:
- Sacramento Mun Util Dist
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
- Sacramento Mun Util Dist
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