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Summary: Crockett Cogeneration, A California L.P. Dec 08

  • ID: 1826898
  • December 2008
  • Region: California
  • Standard & Poors
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FEATURED COMPANIES

  • BNP Paribas
  • General Electric Co.
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Abstract
Standard & Poor's Ratings Services rating on Crockett Cogeneration, A California Limited Partnership's $295 million senior secured notes due 2025 is 'BBB-'. The outlook is negative. Crockett is a 240 MW natural gas-fired electric cogeneration facility located in Crockett, Calif., about 25 miles east of San Francisco. Crockett is a qualifying facility (QF) selling power to Pacific Gas & Electric Co. (PG&E) (BBB+/Stable) under the terms of a power purchase agreement (PPA) that expires in 2026. In addition, Crockett sells steam to C&H Sugar Company Inc. (C&H) (not rated) under the terms of a steam sales agreement that also expires in 2026. Natural gas is provided by BP Canada Energy Marketing Corp., an affiliate of BP Canada Energy Co. (AA+/Stable/A-1+),...

Companies mentioned in this report are:
- Crockett Cogeneration, A California L.P.
- General Electric Co.
- Pacific Gas & Electric Co.
- BNP Paribas

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 READ MORE >

Note: Product cover images may vary from those shown
2 of 3

- Crockett Cogeneration, A California L.P.
- General Electric Co.
- Pacific Gas & Electric Co.
- BNP Paribas

Note: Product cover images may vary from those shown
3 of 3
Note: Product cover images may vary from those shown