Tucson Electric Power's Unsecured Debt Rating Is Raised To 'BB-'; New Bond Issue Rated 'BB-' - S&P Global Ratings’ Credit Research

Tucson Electric Power's Unsecured Debt Rating Is Raised To 'BB-'; New Bond Issue Rated 'BB-'

Tucson Electric Power's Unsecured Debt Rating Is Raised To 'BB-'; New Bond Issue Rated 'BB-' - S&P Global Ratings’ Credit Research
Tucson Electric Power's Unsecured Debt Rating Is Raised To 'BB-'; New Bond Issue Rated 'BB-'
Published Mar 11, 2008
648 words — Published Mar 11, 2008
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

SAN FRANCISCO (Standard&Poor's) March 11, 2008--Standard&Poor's Ratings Services said today that it raised its unsecured ratings for Tucson Electric Power Co. (TEP) by one notch to 'BB-' and assigned its 'BB-' rating to the proposed offering of up to $121 million of 2008 series A industrial development bonds issued by the Pima County Industrial Development Authority in Arizona (Pima). The Pima bonds will be unsecured obligations of TEP, which is the obligor. TEP will use the offering's proceeds to pay down its revolver balances of about $75 million as of March 7, 2007 and to prefinance a portion of TEP's $138 million maturity of collateral trust obligations, due August 2008. The outlook is stable. The upgrade

  
Brief Excerpt:

RESEARCH Tucson Electric Power's Unsecured Debt Rating Is Raised To '##-'; New Bond Issue Rated '##-' Publication date: 11-Mar-2008 Primary Credit Analyst: Anne Selting, San Francisco (1) 415-371-5009; anne_selting@standardandpoors.com...

  
Report Type:

Ratings Action

Ticker
3304Q
Issuer
Tucson Electric Power Co.
GICS
Electric Utilities (55101010)
Sector
Global Issuers, Public Finance, Structured Finance
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Tucson Electric Power's Unsecured Debt Rating Is Raised To 'BB-'; New Bond Issue Rated 'BB-'" Mar 11, 2008. Alacra Store. May 18, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Tucson-Electric-Power-s-Unsecured-Debt-Rating-Is-Raised-To-BB-New-Bond-Issue-Rated-BB-635080>
  
APA:
S&P Global Ratings’ Credit Research. (). Tucson Electric Power's Unsecured Debt Rating Is Raised To 'BB-'; New Bond Issue Rated 'BB-' Mar 11, 2008. New York, NY: Alacra Store. Retrieved May 18, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Tucson-Electric-Power-s-Unsecured-Debt-Rating-Is-Raised-To-BB-New-Bond-Issue-Rated-BB-635080>
  
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