Fitch: No Widespread Concerns for U.S. Utilities, Power & Gas Due to Tight Bank Credit

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posted: 27 DAYS 3 HOURS AGO

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Fitch Ratings says the current bank liquidity situation should be manageable and not have a widespread impact on ratings for the U.S. Utilities, Power, and Gas (UPG) sector. In a recently released report, Fitch states the UPG sector issuers have maintained relatively good loan and bond market access during the credit crisis.

"Alternative liquidity strategies that diversify funding sources away from traditional credit facilities or reduce liquidity needs should continue to enable the UPG sector to effectively manage the liquidity gap," said Sharon Bonelli, Managing Director in Fitch's Global Power group.

To better understand UPG refinancing and credit needs, Fitch reviewed the maturity dates of credit facilities of 152 Fitch-rated borrowers in the sector with an aggregate commitment amount of $169 billion. The report describes the results of Fitch's credit facility review and discusses a range of alternative liquidity strategies contemplated or employed by issuers in response to less robust bank credit market access. The report titled, 'Fitch Review of Bank Credit Facilities in the Utility, Power and Gas Sector' is available on the Fitch web site, ' www.fitchratings.com' under Global Power >> Special Reports.

Additional information is available at ' www.fitchratings.com'.

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