San Antonio CPS Energy; CP; Combined Utility; Retail Electric - S&P Global Ratings’ Credit Research

San Antonio CPS Energy; CP; Combined Utility; Retail Electric

San Antonio CPS Energy; CP; Combined Utility; Retail Electric - S&P Global Ratings’ Credit Research
San Antonio CPS Energy; CP; Combined Utility; Retail Electric
Published Jun 05, 2019
8 pages (3614 words) — Published Jun 05, 2019
Price US$ 500.00  |  Buy this Report Now

About This Report

  
Abstract:

S&P Global Ratings affirmed its 'AA' long-term rating and underlying rating (SPUR) on San Antonio, Texas' electric and gas systems' (d/b/a City Public Service of San Antonio, or CPS Energy [CPS]) senior-lien debt and affirmed its 'AA-' long-term rating on the electric and gas systems' junior-lien debt outstanding. The difference in the ratings reflects the lien status. The outlook on the ratings is stable. The rating reflects the application of our "U.S. Municipal Retail Electric And Gas Utilities: Methodology And Assumptions" criteria (published Sept. 27, 2018, on RatingsDirect). S&P Global Ratings also affirmed its 'A-1+' ratings on the electric and gas systems' series A ($400 million) tax-exempt, B ($200 million) tax-exempt, and C ($100 million) tax-exempt commercial paper (CP) notes.

  
Brief Excerpt:

...S&P Global Ratings affirmed its '##' long-term rating and underlying rating (SPUR) on San Antonio, Texas' electric and gas systems' (d/b/a City Public Service of San Antonio, or CPS Energy [CPS]) senior-lien debt and affirmed its '##-' long-term rating on the electric and gas systems' junior-lien debt outstanding. The difference in the ratings reflects the lien status. The outlook on the ratings is stable. The rating reflects the application of our "U.S. Municipal Retail Electric And Gas Utilities: Methodology And Assumptions" criteria (published Sept. 27, 2018, on RatingsDirect). S&P Global Ratings also affirmed its 'A-1+' ratings on the electric and gas systems' series A ($400 million) tax-exempt, B ($200 million) tax-exempt, and C ($100 million) tax-exempt commercial paper (CP) notes. The CP ratings are based on the long-term rating on CPS Energy. The CP notes will be used as interim funding for identified and approved capital projects to the systems, provide working capital for fuel...

  
Report Type:

Full Report

Ticker
2870Z
Issuer
San Antonio
Sector
Global Issuers, Public Finance, Structured Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "San Antonio CPS Energy; CP; Combined Utility; Retail Electric" Jun 05, 2019. Alacra Store. May 08, 2025. <http://www.alacrastore.com/s-and-p-credit-research/San-Antonio-CPS-Energy-CP-Combined-Utility-Retail-Electric-2244587>
  
APA:
S&P Global Ratings’ Credit Research. (). San Antonio CPS Energy; CP; Combined Utility; Retail Electric Jun 05, 2019. New York, NY: Alacra Store. Retrieved May 08, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/San-Antonio-CPS-Energy-CP-Combined-Utility-Retail-Electric-2244587>
  
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