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Summary: Bonneville Power Administration, Oregon Energy Northwest; Retail Electric; Wholesale Electric Jun 08 Product Image

Summary: Bonneville Power Administration, Oregon Energy Northwest; Retail Electric; Wholesale Electric Jun 08

  • Published: June 2008
  • Standard & Poors

Abstract
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: Affirmed
Action: New Rating
Action: Outlook: Stable

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Bonneville Pwr Admin,Energy Northwest

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