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Bonneville Power Admin Outlook Revised to Negative on Increasing Likelihood of Debt Extension Mar 03
Standard & Poors, March 2003
Abstract
SAN FRANCISCO (Standard & Poor's) March 13, 2003--Standard & Poor's Ratings Services said today that it revised its outlook to negative from stable on the 'AA-' rating on debt issued for Bonneville Power Administration by Energy Northwest. The revision reflects the increasing likelihood that Bonneville and its customers will decide to use cash savings provided by Bonneville's debt optimization program to finance current operations rather than to pay down more expensive Treasury debt as originally intended. In addition, Standard & Poor's assigned its 'AA-'/Negative rating to approximately $714 million in refunding bonds, to be issued on March 18. 'We are concerned that the stringent effects of prior rate increases coupled with ongoing revenue shortfalls have prompted Bonneville and its customers...
Companies mentioned in this report are: Bonneville Pwr Admin
Action: Various Rating Actions
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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