| Title: | Bulletin: Tennessee Engy Acquisition 2006C Bond Rating Unaffected By Counterparty Outlook Revision |
| Price: | $100.00 |
| Publication Date: | May 02, 2008 |
| Report Type: | News |
| Abstract: | NEW YORK (Standard&Poor's) May 2, 2008--Standard&Poor's Ratings Services today noted that the outlook revision of Royal Bank of Canada (RBC; AA-/Stable/A-1+) does not affect the rating or outlook on Tennessee Energy Acquisition Corp. series 2006C bonds (TEAC; AA-/Negative). The rating on the prepay transaction is currently tied to the rating on TEAC's gas supplier, J. Aron&Co. The Goldman Sachs Group Inc. (AA-/Negative/A-1+) guarantees J. Aron's obligations. Standard&Poor's could lower the rating on TEAC's 2006C transaction if one of the other counterparties in the transaction becomes the primary ratings constraint. Royal Bank of Canada Europe Ltd. (RBCEL; not rated) is one of the counterparties for the fixed-price commodity swap to TEAC's $1.1 billion |
| Brief Excerpt: | RESEARCH Ratings Definitions Bulletin: Tennessee Engy Acquisition ####C Bond Rating Unaffected By Counterparty Outlook Revision Publication date: ##-May-#### Primary Credit Analyst: Kenneth L Farer, New York (#) ###-###-####; kenneth_farer@standardandpo... |
| Word Count: | 445 |
| Issuer: | Tennessee Energy Acquisition Corp (Gas Prepay) |
| Sector: | Global Issuers, Structured Finance, Public Finance, Financial Institutions, Insurance, Corporations, Utilities, Asset-Backed Securities, Collateralized Debt Obligations, Asset-Backed Commercial Paper, Commercial MBS, Residential MBS, Gas |
| Country: | United States |
| Region: | United States |
| Format: | 
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