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Summary: Roseville, California; Joint Criteria; Retail Electric May 08 Product Image

Summary: Roseville, California; Joint Criteria; Retail Electric May 08

  • Published: May 2008
  • Standard & Poors

FEATURED COMPANIES

Abstract
Standard & Poor's Ratings Services assigned its 'A+' underlying rating (SPUR) to the City of Roseville, Calif.'s series 2008A and 2008B refunding certificates of participation (COPs), and affirmed its 'A+' parity SPUR on Roseville's electric system revenue bonds and certificates. The bonds and certificates are secured by a first-lien pledge of the net revenues of Roseville's electric system, and will refinance the series 2005B and 2005C certificates, as well as fund termination of certain swap agreements. The series 2008A and 2008B certificates will benefit from an irrevocable direct-pay letter of credit (LOC) to be issued by Dexia Credit Local. Standard & Poor's also assigned its 'AAA/A-1+' rating to Roseville's series 2008A and 2008B COPs. The long-term component of the rating...

Companies mentioned in this report are: Roseville
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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Roseville

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