TITLE

Negative on Vernon Utility

AUTHOR(S)
Saskal, Rich
PUB. DATE
May 2006
SOURCE
Bond Buyer;5/26/2006, Vol. 356 Issue 32390, p39
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Standard & Poor's Ratings Services has placed the BBB-plus rating for electric system revenue bonds issued by the city of Vernon, California. The action reflects the suburban Los Angeles utility's issuance of $421 million in debt through the creation of an authority to fund the prepayment of nearly 90% of the system's single baseload generation unit. Moody's Investors Service Inc. has placed A3 rating for these revenue bonds.
ACCESSION #
21043163

 

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