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TEXTS&P requests comment on criteria for utility first mortgage bnds
September 26, 2012 / 2:00 PM / 5 years ago

TEXTS&P requests comment on criteria for utility first mortgage bnds

Sept 26 - Standard & Poor's Ratings Services is requesting comments on its
proposal to revise its criteria for rating utility first mortgage bonds. If
adopted, these proposed criteria would supersede "Criteria: Changes To
Collateral Coverage Requirements For '1+' Recovery Ratings On U.S. Utility First
Mortgage Bonds," published Sept. 6, 2007.

SCOPE OF THE PROPOSAL 
The proposed criteria would apply to ratings on first mortgage bonds issued by 
investor-owned or privatized utilities in countries where we have classified 
the insolvency regime in "Group A" (see "Update: Jurisdiction-Specific 
Adjustments To Recovery And Issue Ratings," published June 20, 2008).

IMPACT ON OUTSTANDING RATINGS
These criteria would affect about 25 outstanding ratings.

DETAILS 
See the article published today on RatingsDirect and posted to 
Standardandpoors.com titled Request For Comment: Collateral Coverage And Issue 
Notching Rules For '1+' And '1' Recovery Ratings On Senior Bonds Secured By 
Utility Real Property."

RESPONSE DEADLINE 
We encourage all market participants to submit written comments on the 
proposed criteria by Oct. 26, 2012. Please send them to 
CriteriaComments@standardandpoors.com.


The report is available to subscribers of RatingsDirect on the Global Credit 
Portal at www.globalcreditportal.com. If you are not a RatingsDirect 
subscriber, you may purchase a copy of the report by calling (1) 212-438-7280 
or sending an e-mail to research_request@standardandpoors.com. Ratings 
information can also be found on Standard & Poor's public Web site by using 
the Ratings search box located in the left column at www.standardandpoors.com.

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