Standard&Poor's Ratings Services assigned its 'AA-' rating to Southern California Public Power Authority's (SCPPA or the authority) $237.2 million series 2010-1 revenue bonds (Milford Wind Corridor Phase I Project), issued on behalf of the electric systems of the Los Angeles Department of Water and Power (LADWP), the City of Burbank, Calif., and the City of Pasadena, Calif. The outlook is stable. The 'AA-' rating reflects our opinion of: The strong credit quality of the participants, with long-term ratings for all three participants of 'AA-/Stable'; Take-or-pay contracts with project participants that unconditionally require the participants to pay operating costs and debt service on the project even if the project is not operating, which alleviates any potential concern with regard
