- Language: English
- Published: July 2012
- Region: Germany
Summary: Coalinga Public Financing Authority, California; Water/Sewer Mar 12
- Published: March 2012
- Region: California
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'BBB' long-term rating to Coalinga Public Financing Authority, Calif.'s series 2012 revenue bonds (Water and Wastewater Refinancing Projects), issued for Coalinga. The outlook is stable. The rating reflects our view of the water and wastewater systems': Shallow service area economy characterized by high unemployment rates during the past 24 months; Complete reliance on imported water from the U.S. Bureau of Reclamation's (USBR) Central Valley Project for potable water supply; Limited long-term capital planning, which leads to a more reactive posture to system needs; Lack of any rate increases for either system during the past five years despite rising water supply costs; and Insufficient water system debt service coverage (DSC) in fiscal 2009 and...
Companies mentioned in this report are: Coalinga Pub Fin Auth
Action: New Rating
Action: Outlook: Stable
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Coalinga Pub Fin Auth