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Summary: Energy Northwest, Washington Bonneville Power Administration, Oregon; Wholesale Electric Aug 12 Product Image

Summary: Energy Northwest, Washington Bonneville Power Administration, Oregon; Wholesale Electric Aug 12

  • Published: August 2012
  • Region: Oregon, Washington
  • Standard & Poors

FEATURED COMPANIES

  • Bonneville Pwr Admin
  • Energy Northwest
  • MORE

Abstract
Standard & Poor's Ratings Services has assigned its 'AA-' rating to Energy Northwest (ENW), Wash.'s proposed $34.6 million Columbia Generating Station (CGS) electric revenue bonds, series 2012-D; and $740.9 million series 2012-E (taxable). Bonneville Power Administration (BPA), Ore., will pay the bonds' debt service as an operating expenses of its electric system. At the same time, Standard & Poor's affirmed its 'AA-' rating on parity subordinate ENW obligations and the several nonfederal obligations that the BPA pays as operating expenses of its electric system. Standard & Poor's also affirmed its 'aa-' stand-alone credit profile on BPA. The outlook is stable. Although the bonds are subordinate ENW obligations, the utility covenanted to close the prior lien. The $263.6 million of closed-lien...

Companies mentioned in this report are:
- Bonneville Pwr Admin
- Energy Northwest

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance READ MORE >

- Bonneville Pwr Admin
- Energy Northwest

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