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Bulletin: Ratings On M-S-R Energy Authority's Series 2009 Prepaid Bonds Unaffected By Assured Guarantee Corp.'s Downgrade

Published Oct 26, 2010

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Abstract:

NEW YORK (Standard&Poor's) Oct. 26, 2010--Standard&Poor's Ratings Services said that the Oct. 25, 2010 downgrade of Assured Guarantee Corp. (AGC; AA+/Stable/--) does not affect the ratings on M-S-R Energy Authority's Series 2009 Bonds (A/Negative). Bondholders rely on an AGC-issued surety policy to fund debt service in case a municipal participant defaults. Each policy is equal to the maximum two monthly gas volumes for the municipal participant at $25 per million Btu. The downgrade of AGC reflects Standard&Poor's opinion of a struggling financial guarantee market, the company's weak statutory operating performance, and the quality of the company's capital within our capital adequacy analysis. (See "Assured Guaranty Corp. And Assured Guaranty Municipal Corp. Ratings Lowered To

Report Type:

Bulletin

Issuer

M-S-R Energy Authority (Gas Prepay)

Sector

Global Issuers

Country

United States

Region

United States

Format:

HTML

Summary: M-S-R Energy Authority (Gas Prepay) – 2011/02/28 – US$ 225.00

Bulletin: Ratings On M-S-R Energy Authority's Gas Prepay Bond Rating Unaffected By Counterparty Downgrade – 2011/08/15 – Free

Summary: M-S-R Energy Authority (Gas Prepay) – 2011/08/18 – US$ 225.00

Bulletin: M-S-R Energy Authority's Ratings Not Affected By Assured Guaranty's Negative CreditWatch – 2011/09/27 – Free

Summary: M-S-R Energy Authority (Gas Prepay) – 2012/02/17 – US$ 225.00

Summary: M-S-R Energy Authority's Series 2009 Bonds – 2010/08/23 – US$ 225.00

Outlook On M-S-R Energy Authority's 'A' Rating Revised To Negative On Citigroup Action – 2010/02/10 – US$ 150.00

Research Update: Outlook On M-S-R Energy Authority's 'A' Rating Revised To Negative On Citigroup Action – 2010/02/10 – US$ 225.00

M-S-R Energy Authority's $901M Series 2009 Prepaid Bonds Are Rated Final 'A'; Outlook Stable – 2009/09/10 – US$ 150.00

Research Update: M-S-R Energy Authority's $901M Series 2009 Prepaid Bonds Are Rated Final 'A'; Outlook Stable – 2009/09/10 – US$ 225.00

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MLA:	S&P Global Ratings’ Credit Research. "Bulletin: Ratings On M-S-R Energy Authority's Series 2009 Prepaid Bonds Unaffected By Assured Guarantee Corp.'s Downgrade" Oct 26, 2010. Alacra Store. May 03, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Ratings-On-M-S-R-Energy-Authority-s-Series-2009-Prepaid-Bonds-Unaffected-By-Assured-Guarantee-Corp-s-Downgrade-827984>

APA:	S&P Global Ratings’ Credit Research. (). Bulletin: Ratings On M-S-R Energy Authority's Series 2009 Prepaid Bonds Unaffected By Assured Guarantee Corp.'s Downgrade Oct 26, 2010. New York, NY: Alacra Store. Retrieved May 03, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Ratings-On-M-S-R-Energy-Authority-s-Series-2009-Prepaid-Bonds-Unaffected-By-Assured-Guarantee-Corp-s-Downgrade-827984>

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