S&P affirms ESI Tractebel

Standard & Poor's said it affirmed its BBB- rating on ESI Tractebel Funding Corp.'s $301 million senior secured notes and its BB rating on ESI Tractebel Acquisition Corp.'s $194 million senior secured notes. The outlook is stable.

S&P said the affirmation is in response to the proposed restructuring of the power purchase agreements with NSTAR subsidiaries Boston Edison Co. (A/stable/A-1) and Commonwealth Electric Co. (A/stable/--).

The agreement is being restructured in an attempt to capture the benefits of providing power from sources that are more economic than the Bellingham plant, according to S&P.

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