Summary: Energy Northwest, Washington Bonneville Power Administration, Oregon; Wholesale Electric Aug 12
- ID: 2200736
- August 2012
- Region: Oregon, Washington
- Standard & Poors
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: 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 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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included. SHOW LESS READ MORE >