Summary: Bonneville Power Administration, Oregon Energy Northwest; Retail Electric; Wholesale Electric Jun 08
- ID: 1826679
- June 2008
- Region: Oregon
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'AA-/A-1+' ratings to the proposed $208.8 million Energy Northwest (ENW), Wash.'s series 2008-F. The bonds' debt service is payable as a Bonneville Power Administration, Ore. (Bonneville) operating expense. The long-term component of the rating is based on Bonneville's role as obligor on the debt. The short-term component of the rating represents the likelihood of payment of tenders and reflects the protections provided by Dexia Credit Local ('A-1+') liquidity facility. The liquidity facility, which is a standby bond purchase agreement (SBPA) shall provide coverage for principal and 34 days' interest at the maximum rate of 12% for the purchase price of bonds that are not successfully remarketed. The SBPA is scheduled to terminate on...
Companies mentioned in this report are:
- Bonneville Pwr Admin
- Energy Northwest
Action: New Rating
Action: Outlook: Stable
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.
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. SHOW LESS READ MORE >