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Access To Capital Will Be Key To Fund The U.S. Generation And Transmission Cooperative Building Boom Jun 05
Standard & Poors, June 2005
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
Abstract
In May 2004, Standard & Poor's Ratings Services noted that generation and transmission cooperatives (G&Ts) would need to borrow significant capital to fund new power plant construction, transmission investment and environmental control projects (see 'U.S. Electric Co-ops' Infrastructure Needs Could Reshape Sources of Debt Financing,' RatingsDirect, May 20, 2004). Since then, a number of G&Ts have indeed announced plans to build baseload capacity, the majority of which will be coal-fired. One of the most important hurdles a power supplier faces when deciding to build new plant is how it will be financed. Many G&Ts are now at this stage. A surprising and potentially worrisome statistic is that as of May 31, 2005, G&T loan applications submitted to the U.S. Department...
Companies mentioned in this report are: Dairyland Pwr Coop,Arkansas Elec Coop Corp,Basin Elec Pwr Coop,Hoosier Energy Rural Elec Coop Inc,Oglethorpe Pwr Corp,Buckeye Pwr Inc,Tri-State Generation & Transmission Assn,Associated Elec Coop Inc,Seminole Elec Coop,East Kentucky Pwr Coop,PowerSouth Energy Cooperative,Old Dominion Elec Coop,Wabash Vy Pwr Assn,Central Elec Pwr Coop Inc,Western Farmer's Elec Coop,Great River Energy,Brazos Elec Pwr Coop
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