Summary: Indiana Municipal Power Agency; Joint Criteria; Wholesale Electric Aug 11
Standard & Poors, August 2011
Abstract
Standard & Poor's Ratings Services has assigned its 'A+' rating to Indiana Municipal Power Agency's (IMPA) power supply system revenue bonds, series 2011A. At the same time, Standard & Poor's affirmed its 'A+' rating on parity debt outstanding and its 'AAA/A-1' ratings on IMPA's series 1998A variable-rate bonds. The outlook is stable. The 'AAA/A-1' ratings reflect the application of Standard & Poor's joint criteria, which incorporates the credit characteristics of IMPA and that of the letter of credit provider, Citibank N.A. In our opinion, the 'A+' rating reflects the following strengths: All-requirements, take and pay power sales contracts between IMPA and 53 of its members, with unlimited step-up; Our assessment that the top six members, which account for more than...
Companies mentioned in this report are:
- Indiana Mun Pwr Agy
Action: Affirmed
Action: New Rating
Action: Outlook: Stable
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
- Indiana Mun Pwr Agy
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