Quality | 2010.01.22
Fitch Affirms Modesto Irrigation District Fin Auth, CA Water Revs at 'A+'; Outlook Stable
SAN FRANCISCO--(BUSINESS WIRE)--Fitch Ratings takes the following rating action on Modesto Irrigation District Financing Authority, California as part of its continuous surveillance effort: --Approximately $160 million water revenue bonds, series 2007F and 1998D, affirmed at \'A+\'. The Rating Outlook is Stable. RATING RATIONALE: --The rating reflects the credit quality of the City of Modesto\'s water system and the city\'s obligation to make payments sufficient to cover debt service requirements if
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