Standard&Poor's Ratings Services assigned its 'AA-' long-term rating to the Southern California Public Power Authority's (SCPPA, or the authority) $117 million series 2015C subordinate transmission project revenue refunding bonds issued for the Southern Transmission System (STS) project. In addition, we affirmed our 'AA-' long-term rating and underlying rating (SPUR) on the authority's previously issued subordinated transmission project revenue bonds. Finally, we affirmed our 'AA/A-1+' long-term rating and 'AA-' SPUR on the authority's series 2000A and 2001A subordinate transmission project revenue refunding bonds. The outlook is stable. The long-term component of the 'AA/A-1+' rating is based on a bond insurance policy provided by Assured Guaranty Municipal Corp. The short-term component of the rating is based on our view of
