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Fideicomiso Petacalco Jul 08 Product Image

Fideicomiso Petacalco Jul 08

  • Published: 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 READ MORE >

Comision Federal De Electricidad (CFE)

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