Top of the News Subscribe Fitch Ratings has assigned a AA rating to approximately $120 million in electric revenue refunding bonds issued by the City of Pasadena on behalf of Pasadena Water and Power.The rating is a step below AAA, which characterizes bonds with virtually no chance of a default. AA describes quality companies although presenting a bit higher risk than AAA.Proceeds from the PWP bonds will be used to fund approximately $30 million of the system’s capital needs, refund an estimated $47 million in outstanding 2008 bonds for savings, refinance a $60 million line of credit and pay costs of issuance. Bonds are expected to price via competitive sale on November 7, 2016.In addition, Fitch has also affirmed its ‘AA’ rating on PWP’s outstanding parity bonds: its $186.9 million electric revenue pre-refunding bonds. The rating outlook means the bond is stable, secured by a first lien on net revenues of the Pasadena electric system.Fitch took note of the PWP’s serving a mature service area, its strong financial performance, the utility’s adaptive rate structure, the capacity to adapt to required power supply conversion, its limited capital and low debt, and increasing transfers to the City’s general fund as key drivers for the favorable rating.PWP provides retail electric service to 65,318 customers within the city of Pasadena. The service area is located within the greater Los Angeles region and exhibits strong economic indicators and ongoing in-fill development.Fitch also noted that PWP should maintain strong financial margins and liquidity especially between 2018 and 2022 in order to keep its rating at a comfortable level. During that period, debt servicing and transfer to the city’s general fund are expected to increase, impacting the utility’s financial balance.The majority of PWP’s energy sales are derived from residential, and commercial and industrial customers, which account for 30 percent and 69 percent, respectively.Historical energy sales exhibit an average annual decline over the past five years of 1 percent as a result of industry advances in energy efficiency and Pasadena’s own programs that promote conservation. More Cool Stuff Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. Your email address will not be published. Required fields are marked * 3 recommended0 commentsShareShareTweetSharePin it Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday First Heatwave Expected Next Week Business News Name (required) Mail (required) (not be published) Website Community News faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Virtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPasadena Public WorksPasadena Water and PowerPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS Make a comment Herbeauty7 Most Startling Movie Moments We Didn’t Realize Were InsensitiveHerbeautyHerbeautyHerbeautyHe Is Totally In Love With You If He Does These 7 ThingsHerbeautyHerbeautyHerbeauty15 Countries Where Men Have Difficulties Finding A WifeHerbeautyHerbeautyHerbeauty10 Instagram Girls Women Obsess OverHerbeautyHerbeautyHerbeauty10 Secrets That Eastern Women Swear By To Stay Young LongerHerbeautyHerbeautyHerbeauty9 Of The Best Family Friendly Dog BreedsHerbeautyHerbeauty Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Government Fitch Rates Pasadena’s Electric System Revenue Bonds ‘AA,’ Outlook Stable Published on Monday, October 24, 2016 | 4:47 pm Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena Community News
Sign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York If you’re in the market for a new best friend this week, you are in luck! There’s no shortage of sweet cats and dogs available for adoption on Long Island.Available for adoption at North Shore Animal League America in Port Washington:AnastasiaAnastasia (reference #H207660) was rescued as a young kitten with significant neurological damage caused by an accident. She immediately received the best medical attention available at North Shore Animal League America’s fully accredited medical center, where she has been thriving. She’s their best kept secret, tucked away in a quiet space, but they want the world to know this very loving 2-year-old kitty is worth noticing.Anastasia is loving and beloved by all who care for her. She loves to greet her humans with chirpy hellos and hardy head butts. In this season of renewal and fresh starts, staff and volunteers are hoping someone with a heart for rescue will discover what they know to be true: Anastasia deserves her new beginning in her very own home.For more information on how to adopt Anastasia, please send an email to [email protected] for adoption at Last Hope Animal Rescue in Wantagh:MissyMissy was one of 10 dogs to arrive at Last Hope Animal Rescue from an unhealthy and dangerous living condition. But thanks to the love and care she is now receiving, in just one month she is showing astounding improvement. Missy has been a very sweet girl at the shelter with not much of an interest in toys, she prefers the love and attention she gets from humans, in part because it is believed that her prior “home” had many other dogs and Missy had to compete for food sources.Missy is approximately 7 years old and happens to be the perfect pint size—she could even be classified as a lap dog, although maybe a dog for a bigger lap. Missy was adopted, but due to her family moving out of state, she came back to Last Hope a few months later. Come on down and meet Missy, she deserves a lifetime journey with a fairy-tale ending!For more information about adopting Missy, call Last Hope Anima Rescue at 631-425-1884 or visit at 3300 Beltagh Ave., Wantagh.Available for adoption at the Little Shelter in Huntington: Juliet is a beautiful brindle colored 3-year-old Chihuahua mix. She is a sweet girl who loves getting affection and giving kisses. She gets a long great with other dogs (especially other small dogs) and is eager to play and make friends.At a recent puppy play date with five other dogs, Juliet just kept running from puppy to puppy and person to person looking for all the attention and play she could get. When she gets really excited she shakes her whole body instead of just her tail. Juliet is a great little dog who is sure to bring lots of fun and laughter to her new family.Cali-OCali-O is known throughout Little Shelter for her love of canine companions and for her, the bigger the better. If she hears a dog enter the cattery, she comes running full speed to meet them and nuzzle against their legs. While her back story is unknown, it is safe to assume she lived in a home with dogs prior to coming to Little Shelter.She’s a great cat who loves to play with toys and snuggle up in cozy beds. She would love to go home to a family that has a dog who could be her new BFF.BubblesDo you like “My Little Pony”? Ever wish cats could have “cutie marks”? Meet Bubbles, the black cat given her name from the white bubble “cutie mark” on her left side.She is a very friendly cat who loves to play and will try to grab your hand in between her two paws. When she starts getting excited while playing, she will give you love bites on your hand. It’s cute when she does this, because she has no teeth!Bubbles loves ear rubs and will purr loudly when given affection. Even her purr sounds like she’s trying to blow bubbles! She will sit in your lap and just let you pet her for hours, all the while purring as loudly as she can. This little girl is ready to show anyone who is willing to give her the chance that “Friendship Is Magic”!For more information on adopting Juliet, Cali-O or Bubbles, call the Little Shelter at 631-368-8770, or visit 33 Warner Rd., Huntington.Available for adoption at The Town of Oyster Bay Animal Shelter:PreciousAppropriately named, Precious (reference #180084) is a stunningly gorgeous 8-month-old, domestic medium haired Calico that is ready to go home with you today! She was adopted at the Town of Oyster Bay Shelter when she was a kitten and unfortunate circumstances landed her back again. She is even more beautiful that she was as a kitten!Precious is now looking for the person who will see the love and longing in Precious’ eyes as she tries to complete her journey to her new forever home. Precious is up to date on all her vaccines, is spayed and is microchipped.For more information about adopting Precious, call the Town of Oyster Bay Animal Shelter at 516-677-5784.As always, thanks for reading and please remember to always adopt, never shop…pass it on!
Kevin Sustaire won round three, and $1,000, of the Dirt Dominator Thursday at Southern Oklahoma Speedway. (Photo courtesy of IMCA.TV)By Mike SpiekerARDMORE, Okla. (March 8) – Kevin Sustaire of Emory, Texas won round three of the Dirt Dominator Thursday night at Southern Oklahoma Speedway and took home the $1,000 payday.Sustaire matched up against Nick Roberts of Des Moines, Iowa, in the final round of the head-to-head, two and a half lap dash bracket race. Roberts won the coin toss and was awarded lane choice.Roberts elected the preferred bottom lane but Sustaire powered around him on the outside through the first set of corners. From there Roberts had to play catch up.Sustaire opened his advantage to three car lengths coming to the white flag. As the duo headed into the final set of turns, Roberts drove his car deep into turns three and four, pulling right up to the rear bumper of Sustaire.However, Sustaire powered off the low side of turn four to take the checkers and lock himself into the $10,000 Dirt Dominator finale on Oct. 25 at Heart O’ Texas Speedway.Racing continues at Southern Oklahoma Speedway with the Southern Stampede on Friday and Saturday night. IMCA Modifieds, IMCA Sunoco Stock Cars, Smiley’s Racing Products Southern SportMods, and IMCA RaceSaver Sprint Cars will be in action both nights.Saturday’s Modified feature is a $1,200 to win Fast Shafts All-Star Invitational ballot qualifier.Watch every lap live on IMCA.TV with a yearly or monthly pass.RESULTSRound 1: Nick Roberts def. Tommy Fain; Chris Bragg def. Scott Edwards; Mike Hansen def. Jeffrey Abbey; Justin McCoy def. Curtis Allen; William Gould def. Brendon Gemmill; Shane Clement def. Russell Dickerson; Riley Simmons def. Tony Hofbauer; Kevin Sustaire def. Randy Havlik.Round 2: Roberts def. Bragg; Hansen def. McCoy; Clement def. Gould; Sustaire def. Simmons.Round 3: Roberts def. Hansen; Sustaire def. Clement.Round 4: Sustaire def. Roberts.