Summary: Chelan County Public Utility District No. 1, Washington; Wholesale Electric
- ID: 1718161
- April 2011
- Region: Washington
- Standard & Poors
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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
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: Outlook: Stable
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