El Centro, CA Debt Rating Outlook Revised To Positive On Coverage And Cash Position

SAN FRANCISCO (S&P Global Ratings) Dec. 22, 2021--S&P Global Ratings revised the outlook to positive from stable and affirmed its 'A-' underlying rating (SPUR) on the El Centro Financing Authority, Calif.'s bonds outstanding, issued for the City of El Centro. "The outlook revision reflects our view of the sewer system's robust all-in coverage and exceptionally strong cash position," said S&P Global Ratings credit analyst Adriana Artola. We view the system as facing slightly above-average environmental risk given the region's drought and seismic exposure. The wastewater treatment plant discharges wastewater to the Central Main Drain, a tributary to the Alamo River. The Alamo River ultimately drains into the Salton Sea. The treatment plant's regulatory permit was most recently renewed in May

...December 22, 2021 SAN FRANCISCO (S&P Global Ratings) Dec. 22, 2021--S&P Global Ratings revised the outlook to positive from stable and affirmed its 'A-' underlying rating (SPUR) on the El Centro Financing Authority, Calif.'s bonds outstanding, issued for the City of El Centro. "The outlook revision reflects our view of the sewer system's robust all-in coverage and exceptionally strong cash position," said S&P Global Ratings credit analyst Adriana Artola. We view the system as facing slightly above-average environmental risk given the region's drought and seismic exposure. The wastewater treatment plant discharges wastewater to the Central Main Drain, a tributary to the Alamo River. The Alamo River ultimately drains into the Salton Sea. The treatment plant's regulatory permit was most recently renewed in May 2019. Furthermore, management reports that the wastewater system is in compliance with all environmental regulations. We understand the city will continue recommending rate adjustments...

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