Public Service Co. Of Colorado's Eligible Green Expenditures First-Mortgage Bonds Rated 'A' (Recovery Rating: 1+) - S&P Global Ratings’ Credit Research

Public Service Co. Of Colorado's Eligible Green Expenditures First-Mortgage Bonds Rated 'A' (Recovery Rating: 1+)

Public Service Co. Of Colorado's Eligible Green Expenditures First-Mortgage Bonds Rated 'A' (Recovery Rating: 1+) - S&P Global Ratings’ Credit Research
Public Service Co. Of Colorado's Eligible Green Expenditures First-Mortgage Bonds Rated 'A' (Recovery Rating: 1+)
Published Jun 15, 2018
3 pages (1251 words) — Published Jun 15, 2018
Price US$ 150.00  |  Buy this Report Now

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Abstract:

NEW YORK (S&P Global Ratings) June 15, 2018--S&P Global Ratings today assigned its 'A' issue rating and '1+' recovery rating to Public Service Co. of Colorado's (PSCo) $350 million of first-mortgage bonds due 2028 and $350 million of first-mortgage bonds due 2048. The ratings reflect our highest expectation of full recovery of principal (100%) in a default scenario, since PSCo's first-mortgage bonds have collateral with ample coverage of the bonds as defined under our secured utility bond criteria. The expectation for full recovery results in a recovery rating of '1+'. PSCo will use proceeds from both "Eligible Green Expenditures" bonds to finance, including refinancing commercial paper already used to fund expenditures, for a 600-megawatt wind generation facility and associated transmission

  
Brief Excerpt:

...NEW YORK (S&P Global Ratings) June 15, 2018--S&P Global Ratings today assigned its 'A' issue rating and '1+' recovery rating to Public Service Co. of Colorado's (PSCo) $350 million of first-mortgage bonds due 2028 and $350 million of first-mortgage bonds due 2048. The ratings reflect our highest expectation of full recovery of principal (100%) in a default scenario, since PSCo's first-mortgage bonds have collateral with ample coverage of the bonds as defined under our secured utility bond criteria. The expectation for full recovery results in a recovery rating of '1+'. PSCo will use proceeds from both "Eligible Green Expenditures" bonds to finance, including refinancing commercial paper already used to fund expenditures, for a 600-megawatt wind generation facility and associated transmission equipment in Colorado at Rush Creek. The issuer credit rating on the utility is 'A-' with a stable outlook. For the issuer credit rating rationale, see the summary analysis on Public Service Co. of...

  
Report Type:

Ratings Action

Ticker
3487Q
Issuer
Public Service Co. of Colorado
GICS
Electric Utilities (55101010)
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Summary: Public Service Co. Of Colorado – 2018/11/06 – US$ 225.00

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Summary: Public Service Co. of Colorado – 2017/09/13 – US$ 225.00

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Public Service Co. Of Colorado's Eligible Green Expenditures First-Mortgage Bonds Rated 'A' (Recovery Rating: 1+)" Jun 15, 2018. Alacra Store. May 03, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Public-Service-Co-Of-Colorado-s-Eligible-Green-Expenditures-First-Mortgage-Bonds-Rated-A-Recovery-Rating-1-2057888>
  
APA:
S&P Global Ratings’ Credit Research. (). Public Service Co. Of Colorado's Eligible Green Expenditures First-Mortgage Bonds Rated 'A' (Recovery Rating: 1+) Jun 15, 2018. New York, NY: Alacra Store. Retrieved May 03, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Public-Service-Co-Of-Colorado-s-Eligible-Green-Expenditures-First-Mortgage-Bonds-Rated-A-Recovery-Rating-1-2057888>
  
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