S&P Global Ratings raised its underlying rating (SPUR) to 'A' from 'A-' on the El Centro Financing Authority, Calif.'s bonds outstanding, issued for the city of El Centro. The outlook is stable. The upgrade reflects our view of the city's consistent maintenance of robust debt service coverage (DSC) and cash levels, which are comparable to those of peers at the rating level. The city is still in the process of completing its sewer master plan, which will better clarify future costs once completed. Despite the uncertainty related to longer-term capital needs, we believe the city's financial profile provides sufficient cushion at the current rating level should the city issue additional debt or draw on reserves to fund capital projects over
