Summary: Los Angeles Department of Water and Power; Retail Electric; Wholesale Electric

S&P Global Ratings placed its 'AA' long-term rating and underlying rating on Los Angeles Department of Water and Power's (LADWP, or the department) power system revenue bonds outstanding on CreditWatch with negative implications. We took a similar CreditWatch action on ratings for the following Southern California Public Power Authority projects in which LADWP is the sole participant: Windy Flats, Linden Wind Energy, Milford Wind Corridor Phase II, Mead Adelanto series 2016A, Mead Phoenix series 2016A, and Apex Power Project. At the same time, S&P Global Ratings affirmed the following ratings: Our 'AA/A-1+' and 'AA/A-1' dual ratings on LADWP's series 2001B and 2002A power system variable-rate demand revenue bonds outstanding, with the short-term rating components reflecting liquidity facilities from various liquidity

...S&P Global Ratings placed its '##' long-term rating and underlying rating on Los Angeles Department of Water and Power's (LADWP, or the department) power system revenue bonds outstanding on CreditWatch with negative implications. We took a similar CreditWatch action on ratings for the following Southern California Public Power Authority projects in which LADWP is the sole participant: + Windy Flats, + Linden Wind Energy, + Milford Wind Corridor Phase II, + Mead Adelanto series 2016A, + Mead Phoenix series 2016A, and + Apex Power Project. At the same time, S&P Global Ratings affirmed the following ratings: + Our '##/A-1+' and '##/A-1' dual ratings on LADWP's series 2001B and 2002A power system variable-rate demand revenue bonds outstanding, with the short-term rating components reflecting liquidity facilities from various liquidity providers, and + Our '##-' long-term rating with a developing outlook on Southern California Public Power Authority's Milford Wind Corridor Phase I Project bonds....

Summary