Fitch Rates Elsinore Valley Muni Water Dist, California's $65MM COPs 'A+'; Outlook Stable - Consumer Finance Hub

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HOME :: RESEARCH :: DEBT :: NEWS:: JUL 2008
Fitch Rates Elsinore Valley Muni Water Dist, California's $65MM COPs 'A+'; Outlook Stable

Fitch Ratings assigns an 'A+' rating to $64.7 million Elsinore Valley Municipal Water District (Riverside County, California) variable-rate certificates of participation (COPs), series 2008A. In addition, Fitch affirms the 'A+' rating on the district's $195.6 million in outstanding COPs. The Rating Outlook is Stable. The series 2008A COPs are expected to sell via negotiation on July 31, 2008. The bonds are secured by the district's net water and sewer revenues after payment of maintenance and operations expenses. Proceeds will be used to refund in full the district's variable-rate COPs, series 2000A.

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