Summary: San Francisco Public Utilities Commission, California; CP

S&P Global Ratings affirmed its 'A-1+' short-term rating on the San Francisco Public Utilities Commission (SFPUC), Calif.'s series A-6 commercial paper (CP) notes (wastewater series, Proposition E.) Effective Oct. 15, 2019, the SFPUC will amend and renew its existing revolving credit and term loan agreement with State Street Bank and Trust Company, which supports its wastewater system's series A-6 notes. The State Street agreement commenced on Oct. 1, 2014, was previously extended on Oct. 17, 2019, and is scheduled to expire on Oct. 16, 2019. However, State Street and the SFPUC have agreed to increase the available commitment amount to $200 million from $100 million and extend the expiration date until Oct. 15, 2023, unless further extended or terminated. All

...S&P Global Ratings affirmed its 'A-1+' short-term rating on the San Francisco Public Utilities Commission (SFPUC), Calif.'s series A-6 commercial paper (CP) notes (wastewater series, Proposition E.) Effective Oct. 15, 2019, the SFPUC will amend and renew its existing revolving credit and term loan agreement with State Street Bank and Trust Company, which supports its wastewater system's series A-6 notes. The State Street agreement commenced on Oct. 1, 2014, was previously extended on Oct. 17, 2019, and is scheduled to expire on Oct. 16, 2019. However, State Street and the SFPUC have agreed to increase the available commitment amount to $200 million from $100 million and extend the expiration date until Oct. 15, 2023, unless further extended or terminated. All other amendments to the agreement are immaterial to the SFPUC's underlying credit. The increase in the series A-6 commitment amount will partially replace the SFPUC's existing capacity under an expiring $100 million credit facility...

Summary