S&P Gives Seattle's Pending Utility Sale Outlook Boost, Solid Ratings

Kelemen, Jasmina
December 2004
Bond Buyer;12/16/2004, Vol. 350 Issue 32031, p1
Trade Publication
The article gives information about Seattle's expectation to competitively sell $288.6 million of improvement and refunding revenue bonds for Seattle City Light, as the city's power utility continues to rebound from the energy crisis that struck the western U.S. in 2001. Standard & Poor Corp.'s assigned an underlying rating of A to the bonds and raised its outlook for the credit two steps from negative to positive. The vast majority of proceeds will be used to refinance outstanding debt. Raising the outlook two notches from negative to positive is usually an indication that there could soon be an upgrade of the actual rating.


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