JEA, FL Senior-Lien Bonds Series Three 2012A Rated 'AA-'; Subordinate Bonds 2012 Series A Rated 'A+' Jan 12
- Language: English
- Published: January 2012
Standard & Poor's Ratings Services has assigned its 'AA-' long-term rating to JEA, Fla.'s $370.4 million issue two, series 23 and 24 St. Johns River Power Park (SJRPP) System refunding revenue bonds. Proceeds will refund a portion of bonds outstanding. At the same time, Standard & Poor's affirmed its 'AA-' rating on the utility's senior-lien electric system revenue bonds, its 'AA-' rating on SJRPP bonds outstanding, its 'AA-' rating on the Bulk Power Supply System (BPSS) bonds that the utility pays as operating expenses, and its 'A+' ratings on the subordinate-lien electric system revenue bonds. The outlook is stable. JEA budgets for gross debt service on its $220 million of electric system and SJRPP Build America Bonds (BABs) and is...
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Action: New Rating
Action: Outlook: Stable
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