Moody's gives Aaa/VMIG1 to Energy Northwest, Wash., electric bonds

Moody's Investors Service said it assigned an Aaa/VMIG1 rating to $208.83 million series 2008-F Project No. 3 variable-rate electric revenue refunding bonds issued by Energy Northwest, Wash.

The bonds are expected to be priced the week of June 16 and will be sold in two $104.415 million subseries, 2008F-1 and 2008F-2.

The outlook is stable.

The short-term portion rating is based on a standby bond purchase agreement from Dexia Credit Local, rated Aa1/P-1 by Moody's.

Proceeds of the current issue will refund various outstanding bonds.

Moody's affirmed its Aaa rating on the $1.938 billion outstanding Project No. 1 bonds; its Aaa rating on the $2.327 billion Columbia Generating Station bonds; and the Aaa rating on the $1.909 billion outstanding Project No. 3 bonds. Moody's also affirmed the Aaa issuer rating on the Bonneville Power Administration.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.