Fitch Ratings affirmed and removed from negative watch its A rating on Southern California Public Power, Project No. 1, gas project revenue bonds Series 2007A, B, and C. The outlook is stable.
The removal of the ratings from negative watch is tied to Fitch’s removal of American International Group from evolving watch due to the high level of implicit and explicit government support for AIG. In this transaction, two different AIG subsidiaries act as the commodity swap provider and the guaranteed investment provider on the debt service reserve fund.
