Mill Valley, CA COP Rating Raised To #AA+# On Adoption Of Five-Year Wastewater Treatment Rate Plan

Stocks and Financial Services Press Releases Wednesday October 19, 2016 08:39
SAN FRANCISCO--19 Oct--S&P Global Ratings

SAN FRANCISCO (S&P Global Ratings) Oct. 18, 2016--S&P Global Ratings raised its long-term rating to 'AA+' from 'AA' on the Mill Valley Facilities Financing Corp., Calif.'s certificates of participation (COPs), issued on behalf of the city of Mill Valley. The outlook is stable.

"The raised rating reflects our view of the city's very strong historical financial performance," said S&P Global Ratings credit analyst Chloe Weil. "We believe the city's financial performance is sustainable, given the city council's recent adoption of a five-year rate plan, which incorporates rising wastewater treatment costs and assessments paid to the Sewerage Agency of Southern Marin, following the completion of a rate study in August 2016," Ms. Weil added.

The COPs are backed by installment payments from the city to the corporation. The installment payments are secured by sewer system net revenue.

Mill Valley, with a population of about 14,000, is located in Marin County, about 11 miles north of San Francisco. Residents have access to diverse employment opportunities throughout the San Francisco Bay Area.

Certain terms used in this report, particularly certain adjectives used to express our view on rating relevant factors, have specific meanings ascribed to them in our criteria, and should therefore be read in conjunction with such criteria. Please see Ratings Criteria at www.standardandpoors.com for further information. Complete ratings information is available to subscribers of RatingsDirect at www.globalcreditportal.com and at www.spcapitaliq.com. All ratings affected by this rating action can be found on the S&P Global Ratings' public website at www.standardandpoors.com. Use the Ratings search box located in the left column.


Latest Press Release

Dusk Network Announces Listing of DUSK Token on Bitfinex, Bittrex International and Ethfinex

- Listings on leading exchanges follow recent $8.1 million raise by Amsterdam based Dusk Network , July 15, 2019 /PRNewswire/ -- Dusk Network, a cryptographically transparent digital ledger, has announced today that its cryptocurrency, DUSK (ERC-20)...

CIMB THAI records 19.4% Y-o-Y increase in net profit to THB 429.9 million for 6M2019. CIMB Thai Fast Forward programme starts to reap results

Mr. Adisorn Sermchaiwong, Acting President and Chief Executive Officer of CIMB Thai Bank PCL, stated that according to the unaudited consolidated financial results for the six months ended 30 June 2019, CIMB Thai group recorded a consolidated net profit...

Premia Partners introduces global first MSCI Vietnam ETF and first low-cost US Treasury Floating Rate ETF designed for Asia as investors position for market uncertainties amid trade discussions

Premia Partners, a leading Hong Kong based investment firm and Top 8 ETF issuer in Hong Kong, announces listing of two market access ETFs designed as efficient building blocks to access opportunities in Vietnam and US Treasuries on July 18th. The two...

A Strong Rally in Gold Marks the Launch of NVM Token Sale on July 15th

- Novem NVM utility tokens will provide a discount on purchasing gold and put users in the most advantageous position to buy gold on the blockchain NovemGold, a better way to buy gold, has announced it is holding its first public sale of NVM utility...

Photo Release: EXIM Thailand Celebrates Successful Issuance of US$ 300 Million Floating Rate Notes

Mr. Pisit Serewiwattana (center), President of Export-Import Bank of Thailand (EXIM Thailand), together with joint-underwriters from the Hongkong and Shanghai Banking Corporation Limited, Mizuho Securities Asia Limited, and Standard Chartered Bank...

Related Topics