(PR-inside.com) In the course of routine surveillance, Fitch Ratings affirms the following Lower Colorado River Authority, Texas (LCRA) ratings. --$1.83 billion outstanding revenue bonds at 'A+'; --$250 million authorized tax-exempt commercial paper notes, series A at 'F1+'; --$25 million authorized taxable commercial paper notes, series A at 'F1+'. The Rating Outlook is Stable. RATING RATIONALE. --LCRA's overall healthy financial metrics include consistent debt service coverage above 1.25 times (x) on an unconsolidated basis for its wholesale power system, which is in line with rating category medians for wholesale providers. --Revenues are primarily derived from long-term power sales contracts with a diverse mix of 43 ..
More...
More...