Announcements


DG-59: Can you confirm that the bank can use the following as an alternate Paragraph 14: “We, the Issuing Bank, certify that as of the Date of Issuance our senior unsecured debt is rated by at least one of Standard & Poor’s (S&P), Moody’s Investors Service (Moody’s), and Fitch Ratings (Fitch). We hereby certify that our senior unsecured debt is rated “A-” or better by S&P, or is rated “A3” or better by Moody’s, or is rated “A-” or better by Fitch. If affiliated with a foreign bank, we further certify we are a U.S. branch office of such foreign bank and that as of the Date of Issuance of this Letter of Credit, our senior unsecured debt meets the ratings requirement of this paragraph.”

Please refer to the document titled “Acceptable Modifications to the IPA LC (March 27, 2017)” posted to the Final Materials page of the Spring Utility DG section of the procurement website for all modifications to the Letter of Credit found acceptable by the IPA.  The modification you have indicated above appears to be modification 14.1 found on page 21.