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Article: S&P Assigns Preliminary Ratings to PSE&G Transition Funding LLC 2001-1.
- Article from:
- PR Newswire
- Article date:
- January 11, 2001
CopyrightCOPYRIGHT 2001 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK, Jan. 11 /PRNewswire/ --
Standard & Poor's today assigned its preliminary ratings to PSE&G Transition Funding LLC's $2.525 billion transition bonds series 2001-1 (see list).
The preliminary ratings are based on information as of Jan. 11, 2001. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings.
The preliminary ratings reflect irrevocable statutory provisions including the creation and periodic true-up of a nonbypassable transition bond charge, as well as an absolute transfer and first priority security interest in bondable transition property. The preliminary ratings are also ...