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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

  • ID: 1887910
  • 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

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.

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- Orange Cnty San Dist

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