S&P revises Lower Colorado River Auth outlook to negative

Tue Nov 20, 2012 9:42am EST

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Nov 20 (Reuters) - Standard & Poor's on Monday said it revised its rating outlook on the Texas Lower Colorado River Authority and its obligated affiliate, the Lower Colorado Authority River Transmission Services Corp, to negative from stable.

The outlook revision affects about $2.93 billion of debt and reflects the authority's loss of some customers, the rating agency said in a statement.

The negative outlook also reflects the "possibility that LCRA could find it more difficult to maintain its financial margins and preserve cash at levels that had previously supported the rating."

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