Bangkok--13 Feb--Standard & Poor's
Standard & Poor's Ratings Services raised its underlying rating (SPUR) to 'A+' from 'A' on the California Special District Association Financing Corp.'s certificates of participation (COPs) series 2001NN, issued on behalf of the Jurupa Community Services District. The outlook is stable.
"The raised rating reflects our view of the district's good coverage of debt service and strong liquidity," said Standard & Poor's credit analyst Li Yang. "The rating is further supported by our view of a primarily residential customer base with average income indicators in northwestern Riverside County."
The stability of the rating reflects our opinion of the district's willingness to raise rates, which should lessen the water fund's dependence on one-time charges.
Located in the northwest portion of Riverside County, the district encompasses roughly 30,720 acres and provides water and sewer services to the communities of Glen Avon, Mira Loma, Eastvale, and Pedley. The district provides water and sewer services to a residential population of approximately 60,000. During fiscal 2008, water connections totaled roughly 24,870, while sewer connections were about 30,590.
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Media Contact:
Edward Sweeney, New York (1) 212-438-6634, [email protected]
Analyst Contacts:
Li H Yang, San Francisco 1-415-371-5024
Misty Newland, San Francisco (1) 415-371-5073
Key Contacts:
Americas Media Relations: (1) 212-438-6667
media_ [email protected]
Americas Customer Service: (1) 212-438-7280
[email protected]