SAN FRANCISCO (Standard&Poor's) Aug. 19, 2010--Standard&Poor's Ratings Services raised its rating and underlying rating (SPUR) to 'AA-' from 'A+' on Southern California Public Power Authority's outstanding subordinated transmission project revenue bonds. The outlook is stable. "The raised ratings reflect our view of the improved credit quality of the six participating cities, as well as the project's importance to those cities," said Standard&Poor's credit analyst Paul Dyson. Contractual payments by the participants secure the rating on the Southern Transmission System (STS) project subordinate-lien revenue bonds. The six participating cities and their shares in the project are Los Angeles Department of Water and Power (59.5%), Anaheim (17.6%), Riverside (10.2%), Pasadena (5.9%), Burbank (4.5%), and Glendale (2.3%).
