- Language: English
- Published: June 2011
- Region: California
Summary: Hercules Public Financing Authority, California; Appropriations Nov 11
- Published: November 2011
- Region: California
- Standard & Poors
Standard & Poor's Ratings Services removed from Credit Watch its ratings on Hercules Public Financing Authority, Calif.'s revenue bonds series 2010 (electric system project), series 2003B lease revenue bonds, and series 2009 taxable lease revenue bonds (Bio-Rad Project), issued for the city of Hercules. The bonds had been placed on CreditWatch with negative implications April 15, 2011. At the same time, Standard & Poor's affirmed its 'A-' rating on the bonds. The outlook is negative. We base the negative outlook on continued general fund pressures related to negative operations at the city's electric utility, negative fund balances in its redevelopment agency (RDA), and stalled development in the city. The rating reflects what we view as the city's: Declines in citywide...
Companies mentioned in this report are: Hercules,Hercules Pub Fincg Auth
Action: Outlook: Negative
Action: Removed From CreditWatch
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.
SHOW LESS READ MORE >
Hercules,Hercules Pub Fincg Auth