Summary: San Antonio, Texas CPS Energy; CP; Combined Utility; Retail Electric - S&P Global Ratings’ Credit Research

Summary: San Antonio, Texas CPS Energy; CP; Combined Utility; Retail Electric

Summary: San Antonio, Texas CPS Energy; CP; Combined Utility; Retail Electric - S&P Global Ratings’ Credit Research
Summary: San Antonio, Texas CPS Energy; CP; Combined Utility; Retail Electric
Published Oct 15, 2020
6 pages (2502 words) — Published Oct 15, 2020
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

S&P Global Ratings assigned its 'AA' long-term rating to San Antonio, Texas' electric and gas systems' taxable new series 2020 revenue refunding senior-lien bonds. At the same time, S&P Global Ratings affirmed its 'AA' long-term rating and underlying rating (SPUR) on the city's electric and gas systems' senior-lien debt, and its 'AA-' long-term rating on the electric and gas systems' junior-lien debt outstanding. The outlook on the ratings is stable. The City Public Service Board of San Antonio (or CPS Energy) manages and operates the city's electric and gas systems. CPS Energy's electric and gas systems' net revenue pledge secures the senior- and junior-lien revenue debt. The difference in the ratings reflects the lien status. The rating reflects the application

  
Brief Excerpt:

...S&P Global Ratings assigned its '##' long-term rating to San Antonio, Texas' electric and gas systems' taxable new series 2020 revenue refunding senior-lien bonds. At the same time, S&P Global Ratings affirmed its '##' long-term rating and underlying rating (SPUR) on the city's electric and gas systems' senior-lien debt, and its '##-' long-term rating on the electric and gas systems' junior-lien debt outstanding. The outlook on the ratings is stable. The City Public Service Board of San Antonio (or CPS Energy) manages and operates the city's electric and gas systems. CPS Energy's electric and gas systems' net revenue pledge secures the senior- and junior-lien revenue debt. The difference in the ratings reflects the lien status. The rating reflects the application of our "U.S. Municipal Retail Electric And Gas Utilities: Methodology And Assumptions" criteria (published Sept. 27, 2018, on RatingsDirect). S&P Global Ratings also affirmed its 'A-1+' ratings on the electric and gas systems'...

  
Report Type:

Summary

Ticker
2870Z
Issuer
San Antonio
Sector
Global Issuers, Public Finance, Structured Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
Buy Now

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Summary: San Antonio, Texas CPS Energy; CP; Combined Utility; Retail Electric" Oct 15, 2020. Alacra Store. May 06, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-San-Antonio-Texas-CPS-Energy-CP-Combined-Utility-Retail-Electric-2536158>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: San Antonio, Texas CPS Energy; CP; Combined Utility; Retail Electric Oct 15, 2020. New York, NY: Alacra Store. Retrieved May 06, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-San-Antonio-Texas-CPS-Energy-CP-Combined-Utility-Retail-Electric-2536158>
  
US$ 225.00
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Residential Mortgage-Backed Securities from one place.