L.A. DWP To Refund $1.1 Billion

Williams, Rochelle
June 2003
Bond Buyer;6/27/2003, Vol. 344 Issue 31666, p1
Trade Publication
The Los Angeles, California Department of Water and Power, the U.S. largest municipal electric utility, is set to sell up to $1.1 billion of refunding revenue bonds on July 7-8, 2003. The refunding will bring all the agency's electric utility debt under a more flexible financing structure under the same master resolution. The rating is based upon the agency's financial and operational flexibility in addition to its strong presence in the power and transmission markets. The department owns its own transmission system, which shielded it during California's energy crisis in 2000 and 2001.


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