LOS ANGELES – Two Santa Paula, Calif., credits were cut to A-plus from AA-minus on Friday by Standard & Poor’s Ratings Services, which cited lower-than-forecast revenue from water utility sales. The outlook on the debt is stable, S&P said.

The ratings service lowered its long-term and underlying spur ratings to A-plus from AA-minus on Santa Paula Public Finance Authority and Santa Paula Utility Authority  water enterprise revenue bonds.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.