Chelan County Public Utility District No. 1, Washington; Wholesale Electric
Standard & Poors, April 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
Abstract
Standard & Poor's Ratings Services has affirmed its 'AA' rating on Chelan County Public Utility District No. 1 (Chelan or the district), Wash.'s Rocky Reach hydroelectric system revenue bonds and Rock Island hydroelectric system revenue bonds. The outlook is stable. Securing each project's debt separately is the respective project's output. The rating reflects our view of each project's superior economics, stable financial performance even under poor water conditions, take-or-pay off-taker contracts for most of projects' capacity, and physical attributes and operational practices that substantially mitigate the risk of production curtailment due to unit outage or environmental requirements. In our opinion, the two projects' credit strengths include the following: Historical production costs that are very low we expect to remain highly...
Companies mentioned in this report are: Chelan Cnty Pub Util Dist #1
Action: Affirmed
Chelan Cnty Pub Util Dist #1
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