Bulletin: Ratings On TexGas II Unaffected By Counterparty Outlook Revision Jan 12

Standard & Poors, January 2012

Abstract
NEW YORK (Standard & Poor's) Jan. 30, 2012--Standard & Poor's Ratings Services said today that the Oct. 14, 2011 outlook revision of BNP Paribas (BNP; AA-/Negative/A-1+) does not affect the rating or outlook on Texas Municipal Gas Acquisition and Supply Corp. II's (TexGas II) series 2007A and 2007B bonds (A/Stable). Bondholders rely on BNP as the commodity swap provider. We removed the ratings on BNP from CreditWatch with negative implications, where we placed them on Dec. 7, 2011. (See "BNP Paribas 'AA-/A-1+' Ratings Affirmed And Removed From CreditWatch On Sovereign Rating Action; Outlook Negative" published Jan. 23, 2012, on RatingsDirect on the Global Credit Portal.) The outlook on BNP is negative, the same as the outlook on France. (See "France's...

Companies mentioned in this report are: Texas Municipal Gas Acquisition and Supply Corp. II (Gas Prepay)
Action: Bulletin

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Research type: News
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Texas Municipal Gas Acquisition and Supply Corp. II (Gas Prepay)

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