Sacramento Municipal Utility District, California; Utility, Retail Electric Jul 03
- ID: 2127920
- July 2003
- Region: California
- Standard & Poors
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
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