Lower Colorado River Authority, Texas; CP; Wholesale Electric May 09

Standard & Poors, May 2009

Abstract
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

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

- Lower Colorado River Auth
- Lower Colorado River Auth Transmission Corp

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