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California Department of Water Resources; Water/Sewer Oct 10
Standard & Poors, Oct 2010
Abstract
Standard & Poor's Ratings Services assigned its 'AAA' long-term rating, and stable outlook, to the California Department of Water Resources' (DWR) Central Valley Project water system revenue bonds series AH and AI. At the same time, Standard & Poor's affirmed its 'AAA' rating and underlying rating (SPUR) on DWR's $2.3 billion parity Central Valley Project water revenue debt. In addition, we affirmed the 'AAA' rating on Kings River Conservation District, Calif.'s water revenue bonds, based on DWR's obligation to make debt service payments on the district's bonds from Central Valley Project water revenue pursuant to a 1979 contract between the district and DWR. The rating reflects our view of the long-term creditworthiness of the Central Valley Project water revenue bonds,...
Companies mentioned in this report are: California Dept of Wtr Resources,Kings River Conserv Dist
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: Full Analysis
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