Research Update: Outlook On Texas Municipal Gas Acquisition And Supply Corp. II Bds Revised To Negative After Similar Action On JPMorgan May 12
- Language: English
- Published: May 2012
- Region: Texas
SAN FRANCISCO (Standard & Poor's) July 10, 2012--Standard & Poor's Ratings Services said today that it assigned its 'A' issue-level rating to Texas Municipal Gas Acquisition and Supply Corp. II's (TexGas II) series 2012C bonds. Standard & Poor's also affirmed its 'A' issue-level rating on TexGas II's series 2007A and 2007B bonds. The outlook on all ratings is negative. The rating on each series of TexGas II bonds is tied to the various transaction participants, which are: JPMorgan Chase & Co. (JPM; A/Negative/A-1), which guarantees the obligations of TexGas II's gas supplier, JP Morgan Venture Energy Corp. (not rated); JPMorgan Chase Bank N.A. (A+/Negative/A-1), the interest rate swap counterparty; BNP Paribas (AA-/Negative/A-1+), the fixed-price commodity swap counterparty; and Transamerica Life...
Companies mentioned in this report are: Texas Municipal Gas Acquisition and Supply Corp. II (Gas Prepay)
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Texas Municipal Gas Acquisition and Supply Corp. II (Gas Prepay)