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AEP Texas Central Co. Dec 11
Standard & Poors, Dec 2011
Abstract
Steady transmission and distribution operating cash flow from wires-only assets; Part of a large electric utility operation that is geographically diverse and has a large customer base; and Parent's low-cost generation fleet. Parent's financial measures could be pressured from exposure to environmental regulations; Marketing operations weaken creditworthiness; and Parent's increased unregulated generation may pressure business profile. Standard & Poor's Ratings Services' ratings on AEP Texas Central (AEPTC) are based on the consolidated credit profile of parent American Electric Power Co. Inc. (AEP), which includes regulated and unregulated operations. AEPTC's business risk profile is excellent and its financial risk profile aggressive in our assessment. AEPTC is a public utility that has no supply obligations and only transmits and distributes electricity in...
Companies mentioned in this report are: AEP Texas Central Co.,American Electric Power Co. Inc.
Action: Review
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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