- Language: English
- Published: November 2011
- Region: California
Summary: Southern California Public Power Authority Series 2009-1 Bonds Rating Lowered To 'AAA/A-2'; Joint Criteria Jan 12
- Published: January 2012
- Region: California
- Standard & Poors
Standard & Poor's Ratings Services lowered its rating on Southern California Public Power Authority's (Magnolia Power Project A) refunding revenue bonds series 2009-1 to 'AAA/A-2' from 'AAA/A-1'. This action follows Standard & Poor's Dec. 8, 2011, downgrade of its rating on KBC Bank N.V. to 'A-/A-2' from 'A/A-1' (please see "KBC Bank N.V. And Core Entities Downgraded One Notch On Bank Criteria Change; Outlook Stable," published Dec. 8, 2011, on RatingsDirect on the Global Credit Portal). The long-term component of the rating is based jointly (assuming low correlation) on the rating on the obligor, Southern California Public Power Authority, and the LOC provided by KBC Bank N.V., The short-term component of the rating is based on the rating on KBC...
Companies mentioned in this report are: Southern California Pub Pwr Auth
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 >
Southern California Pub Pwr Auth