Standard & Poor’s projects that California public power utilities will continue to maintain stability in their credit ratings, despite the challenges facing them. The rating agency released a report, “California Public Power Utilities Wrestle With Competing Energy Demands And Global Warming Strategies,” on Monday.For more than a decade, the report said, the California electric industry has experienced a series of challenges, such as its failed attempt at deregulation, extreme power market price volatility, drought, and, most recently, wildfires.As a whole, the state’s public power industry has met those challenges with good financial performance, management planning, and strong and stable customer bases, the report said.Today, the utilities must face growing load demand, reliance on natural gas, and the state’s position as a leader in addressing global warming.“Rating upgrades may be limited due to cost pressures associated with drought, natural gas supply, and demands on the utilities to address renewable energy targets and other environmental regulations unique to the state,” the report said.
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The competitive sale comes as the market prepares for a very New York-heavy week next week in the primary.
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"We, the city of Philadelphia proper, we can't do it alone," Parker said in a keynote address at The Bond Buyer Infrastructure conference Tuesday. "We are grateful to our state and our federal partners, as well as the bond market."
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For municipals, Wednesday "marks a crucial step forward, perfectly aligned with the current risk landscape," said James Pruskowski, chief investment officer for 16Rock Asset Management.
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The Republican presidential nominee reverses course on his own policy
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"It's great people are thinking about creative solutions, but don't forget the rules still apply," said the SEC's Dave Sanchez.
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Up to $182 million of bonds will be issued by a city of Frisco entity to renovate Toyota Stadium, home to Major League Soccer's FC Dallas.
September 18