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Bonneville Power Adminstration, Oregon; Retail Electric; Wholesale Electric Jan 08
Standard & Poors, Jan 2008
Abstract
Standard & Poor's Ratings Services has affirmed its 'AA-' ratings on the Energy Northwest (ENW), Wash.'s electric revenue bonds and several additional nonfederal debt obligations supported by the Bonneville Power Administration. Each of these obligations is paid by Bonneville as an operating expense that is paid ahead of $6.6 billion of federal obligations. The nonfederal debt obligations also total $6.6 billion. ENW debt of $6.2 billion represents 94% of Bonneville's nonfederal debt commitments. Federal debt includes bonds Bonneville issued to the U.S. Treasury as well as federal appropriations that Bonneville must repay with interest. Payment of the federal debt can be deferred if monies remaining after payment of operating expenses, including the nonfederal debt, are insufficient to meet total obligations....
Companies mentioned in this report are: Bonneville Pwr Admin,Eugene,Tacoma,Energy Northwest,Northern Wasco Cnty Peoples Util Dist,Lewis Cnty Pub Util Dist #1,Conservation and Renewable Energy Sys,Northwest Infrastructure Financing Corp.
Action: Affirmed
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: Full Analysis
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