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Industry Report Card: U.S. Electric Utility Sector Continues To Perform Well In Second-Quarter 2008 Sep 08
Standard & Poors, Sep 2008
Abstract
As the calendar approaches autumn 2008, the regulated U.S. electric utility industry has performed well this year given a myriad of credit favorable market factors that include investor rotation to asset-heavy industries, substantial liquidity positions, and generally favorable regulatory outcomes. Before the recent market pullback due to concern about the U.S. banking system, electric utility debt issuance was running at a record pace for full year. Continuation of these positive trends for the remainder of the year will be highly dependent on three critical factors: sustaining adequate liquidity positions, maintaining investor appetite for utility debt securities, and garnering responsive regulatory decisions. With the large amount of capital expenditures projected for 2009 and 2010 (more than $80 billion per year for...
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.
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