UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) February 7, 2007
AMERICAN STATES WATER COMPANY
(Exact name of registrant as specified in its charter)
California 001-14431 95-4676679
(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation or organization) Identification No.)
630 East Foothill Blvd.
San Dimas, California 91773
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (909) 394-3600
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GOLDEN STATE WATER COMPANY
(Exact name of registrant as specified in its charter)
California 001-12008 95-1243678
(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation or organization) Identification No.)
630 East Foothill Blvd.
San Dimas, California 91773
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (909) 394-3600
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing requirement of the registrant under any of the
following provisions (see General Instruction A.2 below):
|_| Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the exchange Act
(17 CFR 14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
Section 8-Other Events
Item 8.01. Other Events
On February 8, 2007 American States Water Company announced Standard & Poor's
(`S&P') has affirmed the corporate ratings of `A-' for American States Water
Company and its primary water utility subsidiary, Golden State Water Company
(`GSWC') and has also revised the rating outlook for both, to positive from
stable. S&P debt ratings range from AAA (highest rating possible) to D
(obligation is in default). Securities ratings are not recommendations to buy,
sell or hold a security and are subject to change or withdrawal at any time by
the rating agency.
A copy of the Company's press release is attached hereto as Exhibit 99.1.
This Form 8-K and the attached exhibit are furnished to, but not filed with, the
Securities and Exchange Commission.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
AMERICAN STATES WATER COMPANY
Date: February 8, 2007 /s/ Robert J. Sprowls
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Robert J. Sprowls
Sr. Vice President, Chief Financial
Officer, Treasurer and Corporate Secretary
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EXHIBIT INDEX
Exhibit No. Description
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99.1 Press Release dated February 8, 2007
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Exhibit 99.1
American States Water Company
Confirms Change of Rating Outlook to Positive
SAN DIMAS, Calif.--(BUSINESS WIRE)--Feb. 8, 2007--American States
Water Company (NYSE:AWR) today confirmed that Standard & Poor's
Ratings Services ("S&P") has affirmed the corporate ratings of 'A-'
for American States Water Company and its primary water utility
subsidiary, Golden State Water Company, and has also revised the
rating outlook for both, to positive from stable.
According to S&P's February 7, 2007 press release, "The outlook
revision reflects improved regulatory treatment in California and the
expectation of consistently strong cash flow measures and declining
debt leverage." As further noted, "Additionally, the outlook assumes
adequate and timely rate relief, as well as that non-regulated
operations will remain modest in scale."
S&P's corporate credit ratings range from AAA (highest rating
possible) to D (rating for default), reflecting S&P's opinion of a
company's overall capacity to meet its financial obligations. Credit
ratings are not recommendations to purchase, sell or hold a security
and are subject to change or withdrawal at any time by the rating
agency.
Certain matters discussed in this news release with regard to the
Company's expectations may be forward-looking statements that involve
risks and uncertainties. The assumptions and risk factors that could
cause actual results to differ materially, include those described in
the Company's Form 10-Q and Form 10-K filed with the Securities and
Exchange Commission.
American States Water Company is the parent of Golden State Water
Company, American States Utility Services, Inc. and Chaparral City
Water Company. Through its subsidiaries, AWR provides water service to
1 out of 30 Californians located within 75 communities throughout 10
counties in Northern, Coastal and Southern California (approximately
254,000 customers) and to approximately 13,000 customers in the city
of Fountain Hills, Arizona and a small portion of Scottsdale, Arizona.
The Company also distributes electricity to approximately 23,000
customers in the Big Bear recreational area of California. Through its
non-regulated subsidiary, American States Utility Services, the
Company contracts with municipalities, the U.S. government and private
entities to provide various services, including billing and meter
reading, water marketing and operation and maintenance of water and
wastewater systems.
CONTACT: American States Water Company
Robert J. Sprowls
Senior Vice President, Chief Financial Officer,
Treasurer and Corporate Secretary
(909) 394-3600, extension 647