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Texas Municipal Gas Acquisition And Supply Corp. II's Series 2012C Bonds Assigned 'A' Rating After Bond Exchange Jul 12 Product Image

Texas Municipal Gas Acquisition And Supply Corp. II's Series 2012C Bonds Assigned 'A' Rating After Bond Exchange Jul 12

  • ID: 2169539
  • July 2012
  • Region: Texas
  • Standard & Poors

Abstract
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)
Action: Affirmed

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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

Texas Municipal Gas Acquisition and Supply Corp. II (Gas Prepay)

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