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JEA, FL's Issue 3 Series 6 Revenue Refunding Bonds Rated 'AA-' Jul 12 Product Image

JEA, FL's Issue 3 Series 6 Revenue Refunding Bonds Rated 'AA-' Jul 12

  • Published: July 2012
  • Standard & Poors

NEW YORK (Standard & Poor's) July 6, 2012--Standard & Poor's Ratings Services has assigned its 'AA-' rating to JEA, Fla.'s proposed $123.04 million St. Johns River Power Park (SJRPP) revenue refunding bonds, issue 3 series 6. Bond proceeds will refund a portion of bonds outstanding. The outlook is stable. At the same time, Standard & Poor's affirmed its 'AA-' rating on JEA's senior-lien electric system revenue bonds, parity SJRPP bonds outstanding, and the Bulk Power Supply System (BPSS) bonds. JEA pays debt service on the SJRPP and BPSS bonds as operating expenses. Standard & Poor's also affirmed its 'A+' ratings on the subordinate-lien electric system revenue bonds. JEA budgets for gross debt service on its $268 million of electric system,...

Companies mentioned in this report are:

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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