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Orange Cnty San Dist, CA's $200 Million Refunding COPs Assigned 'AAA' Rating On Excellent Credit Access Mar 09 Product Image

Orange Cnty San Dist, CA's $200 Million Refunding COPs Assigned 'AAA' Rating On Excellent Credit Access Mar 09

  • Published: March 2009
  • Standard & Poors

Abstract
SAN FRANCISCO (Standard & Poor's) March 17, 2009-- Standard & Poor's Rating Services assigned its 'AAA' long-term rating to Orange County Sanitation District, Calif.'s $200 million refunding certificates of participation (COPs), series 2009. At the same time, Standard & Poor's affirmed its 'AAA' long-term rating and underlying rating (SPUR) on the district's approximately $1 billion in parity debt. The outlook is stable. "The rating reflects our opinion of the district's excellent credit market access, very strong cash reserves, and excellent revenue collections," said Standard & Poor's credit analyst Ian Carroll. "The rating is further supported by what we consider strong debt service coverage and a broad, affluent, and largely residential service area economy." The notes will mature in December 2009,...

Companies mentioned in this report are:
- Orange Cnty San Dist

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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- Orange Cnty San Dist

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