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JEA, Florida; Retail Electric Jan 07 Product Image

JEA, Florida; Retail Electric Jan 07

  • Published: January 2007
  • Region: Florida
  • Standard & Poors

Abstract
The rating outlook on bonds issued by JEA, Fla. has been revised to stable from negative. The outlook revision reflects improved financial metrics, including enhanced coverage and liquidity, which have followed the adoption of policies that addressed the under-recovery of fuel costs. The issue II series 22 bonds issued by JEA on behalf of St John's River Power Park (SJRPP) have been rated 'AA-'; the rating on related parity obligations has been affirmed. Debt service on the bonds is an operating expense of JEA; the bonds, therefore, are rated as parity to JEA's electric system senior-lien bonds, the ratings on which have also been affirmed at 'AA-'. The 'A+' rating on subordinate-lien revenue bonds of the electric system has also...

Companies mentioned in this report are:
- JEA

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 READ MORE >

JEA

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