Sacramento Municipal Utility District, CA's Series 2011X Electric Revenue Refunding Bonds Assigned 'A+' Rating Sep 11

Standard & Poors, September 2011

Abstract
SAN FRANCISCO (Standard & Poor's) Sept. 6, 2011--Standard & Poor's Ratings Services assigned its 'A+' long-term rating to Sacramento Municipal Utility District (SMUD), Calif.'s $350 million series 2011X electric revenue refunding bonds. In addition, Standard & Poor's affirmed its 'A+' long-term rating and underlying rating (SPUR) on the district's previously issued senior-lien revenue bonds and its 'A' SPUR on the district's previously issued subordinate-lien revenue bonds. The outlook on all ratings is stable. "The ratings reflect our opinion of such factors as the district's improved fixed-charge coverage, sound business strategy, diverse and non-carbon-emitting resource portfolio, strong unrestricted cash reserves, and strong risk management and hedging procedures," said Standard & Poor's credit analyst Paul Dyson. We understand that the series 2011X...

Companies mentioned in this report are:
- Sacramento Mun Util Dist
- Sacramento Municipal Utility District Financing Authority

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
- Sacramento Municipal Utility District Financing Authority

Customers who bought this item also bought

• Redesigning the Public Library Building
• Government Investment Pools Report
• 2012 America's Neighborhoods-Zip Code 95823 for Sacramento, CA report
• 2012 America's Neighborhoods-Zip Code 95828 for Sacramento, CA report
• Library Use of eBooks, 2013 Edition
• The Survey of Library Database Licensing Practices, 2012 Edition
• US Directory Suite: Federal, Federal Regional, State, County and Municipal Directories
• Russia: Higher Education Market. Analysis and Forecast to 2017
• The New York State Directory 2011/12 Edition
• Russia: Vocational Education Market. Analysis and Forecast to 2017