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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Softechie who wrote (66487)	5/13/2002 4:27:24 PM
From: Softechie	Respond to of 99280

Calif. Gov. Gray Davis' intention to sell $11 billion power revenue bonds in September or October is "realistic", says David Hitchcock, a director at S&P. However, "before we would sign off on an investment grade rating on an issue like that, our legal counsel would have to feel very, very comfortable that they're authorized to issue these bonds... and that the Dept. of Water Resources (the state agency that will sell the bonds) will be able to raise rates as needed to pay off the debt." (TL)