S&P Global Corrects By Restating Austin, TX's Electric Utility Coverage Metric; Ratings Unchanged - S&P Global Ratings’ Credit Research

S&P Global Corrects By Restating Austin, TX's Electric Utility Coverage Metric; Ratings Unchanged

S&P Global Corrects By Restating Austin, TX's Electric Utility Coverage Metric; Ratings Unchanged - S&P Global Ratings’ Credit Research
S&P Global Corrects By Restating Austin, TX's Electric Utility Coverage Metric; Ratings Unchanged
Published Feb 06, 2017
3 pages (986 words) — Published Feb 06, 2017
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) Feb. 6, 2017--S&P Global Ratings has corrected and restated its research update on Austin, Texas' electric utility dated Nov. 11, 2016. The correction does not result in a rating or outlook change. The long-term rating on Austin, Texas' separate-lien electric utility system revenue debt remains 'AA' with a stable outlook. The correction involves our recharacterization of Austin Energy's fixed-capacity payment obligations under its purchase power agreements (PPA) as fixed debt-like costs. As such, we revised our fixed-charge coverage to 1.68x in fiscal 2015 from 2.4x.

  
Brief Excerpt:

STANDARD & POOR'S, S&P and RATINGSDIRECT are registered trademarks of Standard & Poor's Financial Services LLC. S&P may receive compensation for its ratings and certain analyses, normally from issuers or underwriters of securities or...

  
Report Type:

Ratings Action

Issuer
Austin
Sector
Global Issuers, Public Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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MLA:
S&P Global Ratings’ Credit Research. "S&P Global Corrects By Restating Austin, TX's Electric Utility Coverage Metric; Ratings Unchanged" Feb 06, 2017. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/S-P-Global-Corrects-By-Restating-Austin-TX-s-Electric-Utility-Coverage-Metric-Ratings-Unchanged-1796045>
  
APA:
S&P Global Ratings’ Credit Research. (). S&P Global Corrects By Restating Austin, TX's Electric Utility Coverage Metric; Ratings Unchanged Feb 06, 2017. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/S-P-Global-Corrects-By-Restating-Austin-TX-s-Electric-Utility-Coverage-Metric-Ratings-Unchanged-1796045>
  
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