Fitch Ratings has assigned an 'A+' rating to the Lower Colorado River Authority's (LCRA) transmission contract revenue bonds, series 2009 (issued on behalf of the LCRA Transmission Services Corporation; TSCorp). The bonds are expected to be issued in an amount up to $200 million. Proceeds will be used to refund outstanding commercial paper and fund new construction of transmission assets as well as fund the debt service reserve fund and pay costs of issuance. The bonds are expected to price on June 17, 2009, depending on market conditions. Fitch also affirmed the 'A+' rating on TSCorp's outstanding contract revenue bonds.
More...
More...