Summary: JEA, Florida; CP; Joint Criteria; Retail Electric Jan 12

Standard & Poors, January 2012

Abstract
Standard & Poor's Ratings Services has assigned its 'AA-' rating to JEA, Fla.'s $14.9 million senior-lien electric system revenue bonds, series three 2012A, and its 'A+' rating to JEA's $62.5 million electric system subordinated revenue bonds, 2012 series A bonds. At the same time, Standard & Poor's affirmed its 'AA-' rating on the utility's senior-lien electric system revenue bonds, the St. Johns River Power Park (SJRPP) bonds, and the Bulk Power Supply System (BPSS) bonds. JEA pays debt service on the SJRPP and BPSS bonds as operating expenses. Standard & Poor's also affirmed its 'A+' ratings on the subordinate-lien electric system revenue bonds. The outlook is stable. Proceeds from the new issues will refund a portion of bonds outstanding as...

Companies mentioned in this report are:
- JEA

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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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.

JEA

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