Standard&Poor's Ratings Services affirmed its 'AA-' long-term rating on Redlands, Calif.'s solid waste revenue bonds, series 2013A, issued by the Redlands Financing Authority. The outlook is stable. Standard&Poor's first assigned its rating on the bonds on Sept. 26, 2013. Since that time, the city has increased the debt sizing to provide $15.0 million in project fund proceeds. Previously, the city planned to generate $11.5 million in proceeds. According to management, the $3.5 million in additional borrowing will directly offset the same amount of planned future parity state loans. In our view, the overall planned debt burden remains substantially the same, leading to the affirmation. For more information on the city's solid waste enterprise and the series
