Abstract: Credit quality for the regulated U.S. electric utility industry is well positioned for the remainder of 2008, given supportive regulatory environments, strong liquidity positions, and market access and appetite for debt securities for the sector as a whole. The outlook momentum, both positive and negative for sector is in equilibrium, excluding pending transactions. The U.S. Senate has begun the process to advance a bill restricting carbon dioxide discharge. It appears unlikely that passage of a "greenhouse gas initiative" will occur before the presidential election later this fall. However, the electric industry is going to be faced with some new environmental compliance mandate, enacted perhaps as early as 2009 with a likely phase-in period to follow. The key to credit quality

Brief Excerpt: RESEARCH Ratings Definitions Industry Report Card: Credit Quality For U.S. Electric Utilities Remains Strong Despite Rising Fuel And Construction Costs Publication date: 10-Jun-2008 Primary Credit Analyst: John W Whitlock, New York...

Report Type: Commentary
Sector: Global Issuers, Public Finance, Structured Finance
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 S&P Credit Research
S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.