Cucamonga Valley Water District, CA Water Bond, COP Outlook Revised To Stable From Positive Due To Drought Conditions

SAN FRANCISCO (Standard&Poor's) Sept. 29, 2015--Standard&Poor's Ratings Services revised its outlook to stable from positive on Cucamonga Valley Water District, Calif.'s outstanding senior lien and subordinate lien water revenue bonds and certificates of participation (COPs). At the same time, Standard&Poor's affirmed its 'AA' long-term rating on the district's senior lien debt and its 'AA-' underlying rating (SPUR) on the district's subordinate lien debt. "The revised out look reflects our view of the district's strong service area, ample water supply, and strong financial profile," said Standard&Poor's credit analyst Chloe Weil. "During the two-year outlook period, we anticipate that the district will maintain at least good debt service coverage not materially below forecasts, and

...SAN FRANCISCO (Standard & Poor's) Sept. 29, 2015--Standard & Poor's Ratings Services revised its outlook to stable from positive on Cucamonga Valley Water District, Calif.'s outstanding senior lien and subordinate lien water revenue bonds and certificates of participation (COPs). At the same time, Standard & Poor's affirmed its '##' long-term rating on the district's senior lien debt and its '##-' underlying rating (SPUR) on the district's subordinate lien debt. "The revised out look reflects our view of the district's strong service area, ample water supply, and strong financial profile," said Standard & Poor's credit analyst Chloe Weil. "During the two-year outlook period, we anticipate that the district will maintain at least good debt service coverage not materially below forecasts, and a very strong liquidity position, coupled with timely rate increases to account for the rising cost of water and fluctuations in demand," Ms. Weil added. The district is located in western San Bernardino...

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