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S&P gives Northern California Power bonds AA/A-1+
Standard & Poor's said it assigned its AA/A-1+ rating to the Northern California Power Agency's refunding and revenue bonds series 2008 A and B (Hydroelectric Project Number One).
The rating reflects the direct-pay letter of credit provided by Dexia Local Credit, the agency said.
The rating covers $85.16 million of variable-rate bonds, series 2008A, due July 1, 2032 and $3 million variable-rate bonds, series 2008B, due July 1, 2032.
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