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Fideicomiso Petacalco Jul 08 Product Image

Fideicomiso Petacalco Jul 08

  • ID: 1807916
  • July 2008
  • Standard & Poors

Abstract
The rating on Fideicomiso Petacalco's $308.9 million bonds due December 2009 reflects Comision Federal De Electricidad?s (CFE; foreign currency BBB+/Stable/--; local currency A-/Stable/--) unconditional and irrevocable obligation to make payments to the Petacalco Trust under a service agreement and a trust agreement. The rating on Petacalco Trust is thus supported by the 'BBB+' long-term foreign currency rating on CFE. The notes are secured by a pledge of Petacalco Trust's rights to receive a portion of fixed-capacity charges payable by CFE under the service agreement and certain other amounts under the trust agreement. In Standard & Poor's Ratings Services opinion, such amounts will be sufficient to make timely payments of principal and interest on the securities under any circumstance. The payments...

Companies mentioned in this report are: Comision Federal De Electricidad (CFE)
Action: Review

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

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Comision Federal De Electricidad (CFE)

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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