Summary: JEA, Florida; Retail Electric Jan 11

Standard & Poors, January 2011

Abstract
Standard & Poor's Ratings Services assigned its 'AAA/A-1' rating to JEA, Fla.'s variable-rate electric system subordinated revenue bonds series 2000A, following the substitution of the standby bond purchase agreement with a letter of credit (LOC) provided by Bank of Montreal (A+/A-1). The long-term component of the rating reflects the application of joint criteria (assuming low correlation) between the Bank of Montreal and the obligor, JEA (A+). The short-term component of the rating reflects the short-term component of the rating on Bank of Montreal. The LOC provides coverage for payment of principal of and interest on the bonds, including payment of unremarketed tendered bonds. The initial LOC provides for a maximum of 54 days of interest coverage at 12% per annum....

Companies mentioned in this report are:
- JEA

Action: New Rating

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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

JEA

Customers who bought this item also bought

• Saudi Arabia Infrastructure Report Q2 2012
• Innovation Systems and Capabilities in Developing Regions: Concepts, Issues and Cases
• Canada Defence and Security Report Q3 2010
• Revenue Opportunities and Stakeholder Mapping - Italy: Air Platforms Market
• IntelliNews - Bosnia and Herzegovina Country Report - Issue 3, 2013
• Argentina Infrastructure Report Q2 2012
• European Military Land Vehicles Market Assessment
• Government Guarantees - In Focus
• Top 10 Companies in Canada Public Sector - Education Industry: IT Spending Predictor 2009
• Analyzing the Global Aerospace and Defense Industry