Various California Power Agency Bond Rating Outlooks Revised To Stable From Negative

Stocks and Financial Services Press Releases Tuesday January 23, 2018 09:20
SAN FRANCISCO--23 Jan--S&P Global Ratings
SAN FRANCISCO (S&P Global Ratings) Jan. 22, 2018--S&P Global Ratings took the following rating actions today:
  • We revised the outlook to stable from negative and affirmed our 'A+' long-term rating and underlying rating (SPUR) on Northern California Power Agency's (NCPA) Hydroelectric Project No. 1 revenue bonds;
  • We revised the outlook to stable from negative and affirmed our 'A+' long-term rating and SPUR on the Transmission Agency of Northern California's (TANC) previously issued revenue bonds (California-Oregon Transmission Project, or COTP); and
  • We revised the outlook to stable from negative and affirmed our 'A+' long-term rating and SPUR on M-S-R Public Power Agency's (M-S-R) previously issued subordinate-lien revenue bonds.

"The outlook revisions reflect a similar action on the Santa Clara electric revenue bond rating on Jan. 22, 2018 given our view of the city's improved financial performance in fiscal 2017 and our view that it is likely sustainable," said S&P Global Ratings credit analyst Paul Dyson.

Certain terms used in this report, particularly certain adjectives used to express our view on rating relevant factors, have specific meanings ascribed to them in our criteria, and should therefore be read in conjunction with such criteria. Please see Ratings Criteria at www.standardandpoors.com for further information. Complete ratings information is available to subscribers of RatingsDirect at www.capitaliq.com. All ratings affected by this rating action can be found on the S&P Global Ratings' public website at www.standardandpoors.com. Use the Ratings search box located in the left column.


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