Silicon Valley Power (Santa Clara) (CA) Credit Ratings

Credit Summary

Silicon Valley Power (Santa Clara) (CA)

EU Endorsed, UK Endorsed; Solicited by or on behalf of the issuer (sell side)

ESG Relevance


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01Ratings

Rating	Action	Date	Type
aa-	Affirmed	20-Sep-2024	Standalone Credit Profile
WD	Withdrawn	17-Apr-2020	Long Term Issuer Default Rating

Key Rating Factors
Revenue Defensibility	a
Operating Risk	a
Financial Profile	aa

Ratings Key	Outlook	Watch
Positive
Negative
Evolving
Stable

* Ratings displayed in orange denotes EU or UK Unsolicited and Non-Participatory Ratings

Where there was a review with no rating action (Review – No Action), please refer to the “Latest Rating Action Commentary” for an explanation of key rating drivers

*Premium Content is displayed in ��ֳ� Red

Rating History

Standalone Credit Profile
Long Term Issuer Default Rating

Date :	20-Sep-2024	02-Jan-2024	05-Jan-2023	13-Jan-2022	21-Jan-2021	17-Apr-2020
Rating :	aa-	aa-	aa-	aa-	aa-	aa-
Action :	Affirmed	Review - No Action	Review - No Action	Affirmed	Review - No Action	New Rating

02Rating Actions

Rating Action Commentary / Fri 20 Sep, 2024

��ֳ� Rates City of Santa Clara, CA's Electric Revenue Bonds 'AA-'; Outlook Stable

Rating Action Commentary / Thu 13 Jan, 2022

��ֳ� Affirms Silicon Valley Power, CA at 'AA-'; Outlook Stable

Rating Action Commentary / Mon 25 Jan, 2021

��ֳ� Withdraws Ratings on Certain U.S. Municipal Bond Maturities

Rating Action Commentary / Fri 17 Apr, 2020

��ֳ� Withdraws IDRs on Various Public Power Issuers

Rating Action Commentary / Fri 07 Feb, 2020

��ֳ� Affirms Silicon Valley Power, CA's Electric Rev Bonds at 'AA-'; Outlook Stable

Rating Action Commentary / Mon 10 Dec, 2018

��ֳ� Takes Various Rating Actions on U.S. Enhanced Municipal Bonds and TOBs

Rating Action Commentary / Thu 01 Nov, 2018

��ֳ� Takes Various Rating Actions on U.S. Enhanced Municipal Bonds and TOBs

Rating Action Commentary / Mon 29 Oct, 2018

��ֳ� Rates Silicon Valley Power (Santa Clara, CA) Electric Revs 'AA-'; Outlook Stable

Rating Action Commentary / Mon 29 Jan, 2018

��ֳ� Takes Various Rating Actions on U.S. Enhanced Municipal Bonds and TOBs

Rating Action Commentary / Fri 26 Jan, 2018

��ֳ� Upgrades Silicon Valley Power (Santa Clara, CA) Electric Revs to 'AA-'; Outlook to Stable

03Insights

New Issue Report / Fri 27 Sep, 2024

Santa Clara (CA)

Navigator Report / Thu 16 May, 2019

Silicon Valley Power (Santa Clara) (CA) - ESG Navigator

Rating Action Report / Wed 20 Dec, 2017

��ֳ� Takes Various Rating Actions on U.S. Enhanced Municipal Bonds and TOBs

Rating Action Report / Tue 02 May, 2017

��ֳ� Takes Various Rating Actions on U.S. Enhanced Municipal Bonds and TOBs

Rating Action Report / Thu 17 Nov, 2016

��ֳ� Takes Various Rating Actions on Enhanced Municipal Bonds and TOBs

Rating Action Report / Fri 28 Oct, 2016

��ֳ� Takes Various Actions on USPF LOC-Supported VRDOs

Rating Action Report / Thu 16 Jun, 2016

��ֳ� Takes Various Rating Actions on Enhanced Municipal Bonds and TOBs

Rating Action Report / Tue 17 Nov, 2015

��ֳ� Takes Various Rating Actions on Enhanced U.S. Municipal Bonds

Rating Action Report / Mon 24 Nov, 2014

��ֳ� Takes Various Rating Actions on Enhanced U.S. Municipal Bonds

Rating Action Report / Thu 05 Dec, 2013

��ֳ� Takes Various Rating Actions on Enhanced U.S. Municipal Bonds and TOBs

04Securities and Obligations

Ratings

Security: Silicon Valley Power (Santa Clara) (CA) / Electric System Revenues
Issuer: Santa Clara (CA)
Bond: elect rev bonds ser 2024A
Series: 2024A

20-Sep-2024
AA-
New Rating
Long Term Rating

20-Sep-2024
AA-
New Rating
Unenhanced Long Term Rating

Rating History