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BULLETIN: Credit Impact of New York Power Outage on National Grid Transco Uncertain Aug 03
Standard & Poors, Aug 2003
Abstract
LONDON (Standard & Poor's) Aug. 15, 2003--Standard & Poor's Ratings Services said today that it will determine whether a rating action on National Grid Transco PLC (A/Stable/A-1) and its subsidiaries National Grid USA (A/Stable/A-1) and Niagara Mohawk Power Corp. (NIMO; A/Stable/--) will be required when the extent of any financial obligations resulting from the power blackouts in New York State are known. Power flows are being restored and no mechanical faults have been found, but the cause of the blackouts has not yet been established. Standard & Poor's takes some comfort from energy supply arrangements that transfer all price and volume risks to generators. Under these agreements, NIMO is not liable for nondelivery of power to generators using its network...
Companies mentioned in this report are: National Grid PLC,National Grid USA,Niagara Mohawk Power Corp.
Action: S&P Event
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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