Financial requirements of the Part 1 Proposal are described in Section IV.3 of the RFP Rules and are summarized below.

In its Part 1 Proposal, a Bidder must name the Entity on whose financial standing the Bidder is relying. The Bidder can either: (a) enter the name of the Bidder, indicating that the Bidder is relying on its own financial standing (in which case the Bidder is the “Entity”); or (b) enter the name of a different party, indicating that the Bidder is relying on the financial standing of another party (in which case a party other than the Bidder is the “Entity”). The Entity under option (b) above is called the “Guarantor”. There are additional requirements for Bidders applying under an Agency Agreement that are described in Section IV.8 of the RFP Rules.

In its Part 1 Proposal, a Bidder must provide, for the Entity, any available ratings, including the type of rating, from the following rating agencies: S&P Global Ratings, Moody’s Investors Service, and Fitch Ratings. For the avoidance of doubt, a Bidder that selects option (a) above submits ratings for the Bidder; a Bidder that selects option (b) above submits ratings for the Guarantor.

In its Part 1 Proposal, a Bidder must additionally provide certain financial information related to the Entity, namely: (i) the most recent audited annual financial information (if available, the SEC Form 10-K should be submitted to fulfill this requirement); (ii) the most recent quarterly financial data (if available, the SEC Form 10-Q should be submitted to fulfill this requirement); and (iii) any public financial disclosure made since the release of the entity’s most recent financial data (if available, SEC Forms 8-K should be submitted to fulfill this requirement).

A Bidder that selects option (a) above and for which the required financial information is not available in whole or in part for the Bidder must state this fact. A Bidder that selects option (b) above must provide financial information for the Guarantor.