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Sacramento Municipal Utility District, California; Utility, Retail Electric May 04
Standard & Poors, May 2004
Senior lien tax-exempt: A/Stable $1.639 billion Subordinate rev bonds:A-/Stable $487.6 million Commercial Paper: A-1+ $51 million ($173 mil LOC) CVFA Carson Cogeneration Project: BBB/Stable SCA Procter & Gamble Cogeneration Project: BBB/Stable SPA Campbell Soup Cogeneration Project: BBB-/Stable Year $ millions 2004 44.245 2005 70.08 2006 87.40 2007 98.29 2008 88.14 Thereafter 2048.78 SMUD's electric revenue bonds are secured by a lien on system net revenues. The senior and subordinate bonds have slightly different legal covenants. Commercial Paper has a lien subordinate to the subordinate revenue bonds. $173 million Line of credit for commercial paper backup purposes. 06/02/03 A/Stable 07/19/02 A/Stable 08/29/01 A/Stable 05/25/01 A/Stable 01/05/01 A/Stable 09/21/00 A/Positive 07/30/99 A/Positive Standard & Poor's Ratings Services assigned its 'A' underlying rating...
Companies mentioned in this report are: Sacramento Mun Util Dist
Action: New Rating
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Research Type: Full Analysis
Sacramento Mun Util Dist