El Centro, CA Debt Rating Raised To 'A' On Robust DSC, Cash Levels; Outlook Stable

SAN FRANCISCO (S&P Global Ratings) Nov. 22, 2023--S&P Global Ratings raised its underlying rating (SPUR) to 'A' from 'A-' on the El Centro Financing Authority, Calif.'s bonds outstanding, issued for the city of El Centro. The outlook is stable. "The upgrade reflects our view of the city's consistent maintenance of robust debt service coverage and cash levels, which are comparable to those of peers at the rating level," said S&P Global Ratings credit analyst Adriana Artola. The bonds are payable from installment payments that are secured by net revenue of the city's wastewater system. Located in Imperial County, along the U.S.-Mexico border, the city is the industrial, agricultural, and governmental center of the region.

...November 22, 2023 SAN FRANCISCO (S&P Global Ratings) Nov. 22, 2023--S&P Global Ratings raised its underlying rating (SPUR) to 'A' from 'A-' on the El Centro Financing Authority, Calif.'s bonds outstanding, issued for the city of El Centro. The outlook is stable. "The upgrade reflects our view of the city's consistent maintenance of robust debt service coverage and cash levels, which are comparable to those of peers at the rating level," said S&P Global Ratings credit analyst Adriana Artola. The bonds are payable from installment payments that are secured by net revenue of the city's wastewater system. Located in Imperial County, along the U.S.-Mexico border, the city is the industrial, agricultural, and governmental center of the region....

Ratings Action