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S&P Credit Research1073 word report
published Nov 06, 2009
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S&P Credit Research
| Abstract: | SAN FRANCISCO (Standard&Poor's) Nov. 6, 2009-- Standard&Poor's Ratings Services raised its rating and underlying rating (SPUR) to 'AA-' from 'A+' on Burbank Water&Power, Calif.'s (BWP) outstanding electric system revenue bonds. The outlook is stable. "The raised rating reflects our view of the electric system's track record of consistently strong financial performance over several years, including debt service coverage of no less than 2.5x, fixed-charge coverage of at least 1.3x, and maintenance of strong liquidity," said Standard&Poor's credit analyst Paul Dyson. In our view, the city's financial performance has been consistently strong between fiscals 2004 and 2009. We attribute this partly to steady and robust retail and wholesale sales revenues, without major fluctuations
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| Brief Excerpt: | RESEARCH Ratings Definitions Burbank Water & Power, CA's Outstanding Electric System Revenue Bond Rating And SPUR Raised To '##-' On Strong Financial Publication date: 06-Nov-2009 Primary Credit Analyst: Paul Dyson, San Francisco...
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| Report Type: | Ratings Action
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| Issuer: | Burbank
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| Sector: | Global Issuers, Public Finance
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| Country: | United States
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| Region: | United States
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
Also from S&P Credit Research
- Burbank Water And Power, California; Retail Electric $400.00
Standard&Poor's Ratings Services raised its rating and underlying rating (SPUR) to 'AA-' from 'A+' on Burbank Water&Power, Calif.'s (BWP) outstanding electric system revenue bonds. The raised rating reflects our view of the electric system's ...
- Summary: Burbank Water And Power, California; Retail Electric $175.00
Standard&Poor's Ratings Services raised its rating and underlying rating (SPUR) to 'AA-' from 'A+' on Burbank Water&Power, Calif.'s (BWP) outstanding electric system revenue bonds. The raised rating reflects our view of the electric system's ...
- Southern California Public Power Authority's Revenue Bond SPUR Raised To 'AA-' $100.00
SAN FRANCISCO (Standard&Poor's) Nov. 6, 2009-- Standard&Poor's Ratings Services raised its underlying rating (SPUR) to 'AA-' from 'A+' on Southern California Public Power Authority, Calif.'s $43.6 million series 2008B taxable natural gas project ...
- Summary: Burbank, California; Retail Electric $175.00
Standard&Poor's Ratings Services affirmed its 'A+' underlying rating (SPUR) on Burbank Water&Power, Calif.'s (BWP) outstanding electric system revenue bonds. Separately, Standard&Poor's assigned its 'A+' rating to Southern California Public ...
- Summary: Burbank, California; Retail Electric; Wholesale Electric $175.00
Standard&Poor's Ratings Services assigned its 'A+' rating to Southern California Public Power Authority (SCPPA), Calif.'s $43.6 million series 2008B taxable Natural Gas Project (Burbank) revenue bonds. The bonds are secured by payments to be ...
- Burbank, California; Retail Electric $400.00
Standard&Poor's Ratings Services affirmed its 'A+' underlying rating (SPUR) on Burbank Water&Power, Calif.'s (BWP) outstanding electric system revenue bonds. Separately, Standard&Poor's assigned its 'A+' rating to Southern California Public ...
- Summary: Burbank, California; Water/Sewer $175.00
Standard&Poor's Ratings Services affirmed its 'AA-' underlying rating (SPUR) on Burbank, Calif.'s series 2004A wastewater treatment revenue and refunding bonds. Credit strengths include: The system's diverse and stable customer base; Limited ...
- Summary: Burbank, California; Solid Waste/Resource Recovery $175.00
Standard&Poor's Ratings Services affirmed its 'AA-' underlying rating (SPUR) on Burbank, Calif.'s waste disposal refunding revenue bonds, reflecting the following credit strengths: A favorable business position with ample landfill capacity ...
