S&P Global Ratings assigned its 'AA-' long-term rating to the Southern California Public Power Authority (SCPPA), Calif.'s anticipated $15.12 million series 2025A Canyon Power Project refunding revenue bonds and approximately $125.99 million series 2025B Canyon Power Project refunding revenue bonds, issued for the city of Anaheim 's electric utility (doing business as Anaheim Public Utilities or APU), which is the sole participant in the Canyon Power project. The outlook is stable. Environmental risks are moderately negative relative to those of its national peers due to state mandates that require rapid renewable acquisition and have resulted in some intermittency risks associated with compliance throughout California. However, APU's power supply planning considers the risks of this intermittency, and the utility's integrated resource
