[MLT] Sacramento Municipal Utility District, California; Joint Criteria; Retail Electric; Wholesale Electric Sep 11
- Language: English
- Published: September 2011
- Region: California
Senior-lien tax-exempt: 'A'/Stable, $1.486 billion Subordinate revenue bonds: 'A-'/Stable, $384 million CP: 'A-1+', $166.3 million ($173 mil LOC) Sacramento Municipal Utility District (SMUD) recently sold $407 million in senior-lien bonds. Proceeds were used to reimburse SMUD for the Rosa gas field purchase ($138.33 million); repay CP ($115.3 million); refund debt ($43.0 million); and for a new borrowing ($110.37 million). Central Valley Financing Authority (CVFA) Carson Cogeneration Project 'BBB'/Stable Sacramento Cogeneration Authority (SCA) Procter & Gamble Cogeneration Project 'BBB'/Stable Sacramento Power Authority (SPA) Campbell Soup Cogeneration Project 'BBB-'/Stable Year Million $ 2003 50.37 2004 74.32 2005 72.69 2006 89.76 2007 90.76 Thereafter 1,825.29 SMUD has approximately $1.5 billion in electric revenue bonds that are secured by a senior lien on system...
Companies mentioned in this report are: Sacramento Mun Util Dist
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 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.
Research Type: Full Analysis
SHOW LESS READ MORE >
Sacramento Mun Util Dist