...June 25, 2020 CENTENNIAL (S&P Global Ratings) June 25, 2020--S&P Global Ratings assigned its '##+' long-term rating to Oceanside, Calif.'s series 2020A water revenue bonds and series 2020 Water Infrastructure Finance and Innovation Act (WIFIA) loan (Pure Water, Lower and Upper Recycled Distribution System Project). At the same time, we affirmed our '##+' long-term rating on the series 2013 obligations issued by Oceanside Public Finance Authority for the City of Oceanside. The outlook is stable. "The rating reflects our view of the water system's very strong enterprise and extremely strong financial risk profiles," said S&P Global Ratings credit analyst Alexandra Rozgonyi. The local economy is in coastal Southern California and benefits from close proximity to the U.S. Marine Corps base at Camp Pendleton and employment centers in Orange County and San Diego County. The city is currently heavily reliant on imported water from San Diego County Water Authority (SDCWA). Approximately 88% of...
