Coalinga Public Financing Authority, CA Water System Revenue Bond Rating Suspended Due To Lack Of Timely Information

DES MOINES (S&P Global Ratings) March 15, 2019--S&P Global Ratings has 
suspended its 'BBB' long-term rating on Coalinga Public Financing Authority, 
Calif.'s series 2012 revenue bonds, issued for the city of Coalinga's water 
system and wastewater system. 

This action follows repeated attempts by S&P Global Ratings to obtain timely 
information of satisfactory quality to maintain its rating on the securities 
in accordance with its applicable criteria and policies. 

"We have not received the water and sewer system's fiscal 2017 audit," said 
S&P Global Ratings credit analyst John Schulz. 
Failure to receive the requested information will likely result in our 
withdrawal of the affected rating, preceded, in accordance with our policies, 
by any change to the rating that we consider appropriate given available 
information. However, if we receive the fiscal 2017 audit and other 
information that we consider sufficient and of satisfactory quality, we will 
conduct a review and take a rating action within 90 days of the rating 
suspension.