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California Dept of Water Resources Revenue Bonds Rated 'AA'; Outstanding Rtg Affirmed Apr 01
Standard & Poors, April 2001
Abstract
SAN FRANCISCO (Standard & Poor's CreditWire) April 27, 2001--Standard & Poor's today assigned its double-'A' rating to the California Department of Water Resources' $261.90 million water system revenue bonds series W. The bonds are scheduled to sell on May 1, 2001. In addition, Standard & Poor's affirmed the double-'A' rating on the district's outstanding debt of more than $2 billion. The outlook is stable. The ratings reflect: - - The strength of its 29 water contractors; - - The essentiality of the state water project and its critical role in the state economy; and - - The department's solid financial position. The bonds are being issued for refunding purposes and are secured by a pledge of revenues, which represents that...
Companies mentioned in this report are: California Dept of Wtr Resources
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.
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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