S&P Global Ratings' long-term ratings on the City of Anaheim, Calif.'s electric utility (doing business as Anaheim Public Utilities or APU), and its long-term ratings on the various debt, issued for the utility by the Southern California Public Power Authority (SCPPA), the Anaheim Public Financing Authority, and the California Municipal Finance Authority, are 'AA-'. The outlook is stable. The various bonds are secured by net revenue payments of APU's electric system. The utility had $679 million in long-term debt outstanding as of June 30, 2023. The rating reflects our view of the utility's financial performance, which has continually improved over the past three years, and is projected to strengthen further. APU has historically met or exceeded its forecast results, indicative
