S&B-70: If we post Performance Assurance in the form of a letter of credit upon contract execution, can we choose to rely on a guarantor at a later date?

This is possible. If the Companies determine that the entity meets the minimum ratings necessary (BBB- from S&P, Baa3 from Moody’s, BBB- from Fitch) to serve as a Guarantor under the terms of the REC Contract, a guaranty may be executed at that time.