Moody's Assigns P-1 to San Diego Public Facilities Fin. Authority CP Series A & B
New York, January 23, 2017-- Moody's Investors Service has assigned P-1 ratings to the Public Facilities Financing Authority of the City of San Diego Subordinated Water Revenue Commercial Paper Notes Series A and Series B. The Series A Notes are supported by a letter of credit from Bank of the West. The Series B Notes are supported by a LOC from Bank of America, N.A.. The ratings on the Notes are based upon the LOCs, the structure and legal protections of the transactions, which provide for...
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