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Seminole Electric Cooperative Inc., Florida Putnam County Development Authority; Rural Electric Coop
Standard & Poors, February 2011
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: Full Analysis
Standard & Poor's Ratings Services has affirmed its 'A-' issuer credit rating on Seminole Electric Cooperative Inc. (Seminole or SECI). At the same time, Standard & Poor's affirmed its 'A-' rating on SECI's series A, B, and C notes, and its 'A-' rating on Putnam County Development Authority's pollution control revenue refunding bonds (Seminole Electric Cooperative Inc. project). The outlook is stable. In our opinion, Seminole's credit strengths include: A captive retail market and the ability to set rates through take-and-pay all-requirements wholesale power agreements with nine of 10 members through 2045; A favorable profile for members, including their largely residential customer bases, competitive rates, and solid financial metrics; A diverse power supply, with owned generation a source of low-power...
Companies mentioned in this report are: Seminole Elec Coop,Putnam Cnty Dev Auth
Seminole Elec Coop,Putnam Cnty Dev Auth