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Summary: Upland, CA; Utility, Water/Sewer Dec 05
Standard & Poors, December 2005
Standard & Poor's Ratings Services affirmed its 'A' underlying rating (SPUR) on the Upland Public Finance Authority, Calif.'s lease-revenue refunding bonds, reflecting: A modestly growing service area economy, which is located in western San Bernardino County; and Good coverage of annual debt service by net water system revenues. Capital pressure from continuing growth is a mitigating factor. The bonds are secured by lease payments made by the city of Upland to the Upland Public Financing Authority. The lease payments are also secured by net revenues of the city's water system. Upland is a primarily residential community with a population of about 70,500. The city is on the border between Los Angeles and San Bernardino counties, about 50 miles from downtown...
Companies mentioned in this report are: Upland,Upland Pub Fin Auth
Action: Outlook: Stable
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.
Upland,Upland Pub Fin Auth