NEW YORK (Standard&Poor's) Jan. 3, 2007—Standard&Poor's Ratings Services assigned its 'AA' rating to Orlando Utilities Commission (OUC), Fla.'s $115 million utility system revenue refunding bonds series 2007. The rating reflects OUC's consistently strong financial performance, with debt service coverage levels above 2.00x and coverage of total fixed obligations after transfers measuring 1.47x; substantial cash reserves, with well-defined policies governing their use; and competitive rates. Additional rating factors include a diverse power supply mix, with ownership interest in fossil steam, combustion turbine, and nuclear plants as well as the use of purchased power contracts; a strong and stable service area economy; and a proactive management team, which has sought to position the commission to effectively compete in
