Sacramento Municipal Utility District, CA's Series 2010W Electric Revenue Bonds Assigned 'A+' Rating Jul 10
- ID: 1887554
- July 2010
- Standard & Poors
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: New Rating
Action: Outlook: Stable
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