Moody's rates Tucson Electric Power bonds Aaa/VMIG1

Moody's Investors Service said it assigned a rating of Aaa/VMIG1 to the $130 million 2008 series B industrial development revenue bonds issued by the Tucson Electric Power Co.

The expected sale date is June 26.

The rating is based on a letter of credit provided by JPMorgan Chase Bank, NA, which Moody's rates Aaa for long-term obligations and Prime-1 for short-term obligations. Moody's maintains a senior secured rating of Baa2 on Tucson Electric Power.

© 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.