National Long-term
Rating: To 'A(bra)'
Rating Outlook Stable, from 'A-(bra)'
Rating Outlook Positive
The
ratings of Mon Power reflect the benefits of ownership of interests in coal fired generation plants in PJM, the lack of competition in its West Virginia franchise service area, and adequate liquidity.
structured finance securities was robust with at least 96% of investment grade rated securities, in particular, either maintaining their
rating or experiencing upgrades over an average year.
However, Fitch's affirmation of HNT's senior debt
rating and the
Rating Outlook revision is not part of the implementation of the new methodology, but rather reflects Fitch's annual review of the company's performance and capitalization.
Fitch withdraws the 'BBq' IFS
rating and assigns a 'BBB+' IFS
rating to:
Foreign Currency; 'BB-'; 'BB+',
Rating Outlook Positive
The commercial paper and surplus notes
ratings are based on the organization's moderate consolidated financial leverage and strong debt-repayment capabilities.
California (rated 'A') is assigned a Positive
Rating Outlook, reflecting general economic and revenue improvement and progress in reducing its structural imbalances, although the final outcome of the proposed budget could affect
rating direction.
Best's Impairment Rate and
Rating Transition Study - 1977 to 2005 demonstrates that impairment rates are inversely related to
ratings--the lower the
rating, the higher the impairment rate; the higher the
rating, the lower the impairment rate.
The average
rating difference on the triple rated bonds was 0.
The following
rating experienced an upward revision upon implementation of the new guidelines:
The relationship between life insurer's IDRs and existing senior unsecured debt
ratings is primarily dependent on characteristics of the regulatory jurisdictions and environments in which the debt issuing holding companies and subsidiary life insurance companies operate.
