Standard & Poor's Ratings Services assigned its 'A' long-term rating, and stable outlook, to Lower Colorado River Authority (LCRA), Texas' series 2009 refunding and improvement revenue bonds and Lower Colorado River Authority Transmission Corp.'s (TSCorp.), the authority's obligated affiliate, series 2009 transmission contract revenue refunding bonds. At the same time, Standard & Poor's affirmed its 'A' standard long-term rating and underlying rating (SPUR), with a stable outlook, on the authority's and TSCorp.'s revenue debt outstanding. The ratings reflect our opinion of LCRA's and its affiliates': Competitive wholesale generation assisting LCRA in remaining an attractive supplier in the face of deregulated electricity markets in Texas and skyrocketing natural gas costs in Electric Reliability Council of Texas and elsewhere; Rate autonomy and...
Companies mentioned in this report are:
- Lower Colorado River Auth
- Lower Colorado River Auth Transmission Corp
Action: New Rating
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