Home | Business News | Browse by Publication | B | Business Wire

Amendment - Fitch Affirms Pedernales Electric Cooperative's (TX) First Mtge Bonds 'AA-'.

Publication: Business Wire
Publication Date: 05-FEB-07 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
SAN FRANCISCO -- (This revises the release that went out on Jan. 30th with a new estimated capital needs figure in the sixth paragraph.)

Fitch Ratings affirms the 'AA-' rating of Pedernales Electric Cooperative, Inc.'s (PEC) $587 million in outstanding first mortgage bonds. The Outlook remains Stable.

The rating reflects the strong underlying value of the nation's largest distribution cooperative, which provides predictable cash flow and limited business risk. PEC has a reasonably flexible and low-cost power supply contract with the Lower Colorado River Authority (LCRA; rated 'A+' by Fitch). LCRA's generation assets are substantially coal-fired (60%) and competitively priced in a deregulated ERCOT power market that is increasingly dependent on natural gas-fired generation. Additional credit strengths include an experienced management team, prudent PEC...

Read the FULL article now - Try Goliath Business News - FREE!   
You can view this article PLUS...

  • Over 5 million business articles
  • Hundreds of the most trusted magazines, newswires, and journals (see list)
  • Premium business information that is timely and relevant
  • Unlimited Access

Now for a Limited Time, try Goliath Business News - Free for 3 Days!
Tell Me More   Terms and Conditions

Get Goliath Business News for 1 year - Just $99 (Save 65%)
Tell Me More   Terms and Conditions

Already a subscriber? Log in to view full article



More articles from Business Wire
Snap2 Corporation Announces Letter of Intent., February 05, 2007
Eaton Vance Limited Duration Income Fund Expands Portfolio Management ..., February 05, 2007
Republic Airways Reports a 25% increase in January 2007 Traffic., February 05, 2007
A.M. Best Upgrades Ratings of Employers Reinsurance, Westport Insuranc..., February 05, 2007
Hasbro Raises the Curtain on a Broad Range of Entertainment Experience..., February 05, 2007

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.