Moody's rates Energy Northwest, Wash., electric bonds Aaa

Moody's Investors Service said it assigned Aaa credit ratings to Energy Northwest, Wash.'s $273.27 million electric revenue bonds.

The bonds consist of $72.31 million Project 1 electric revenue refunding bonds, series 2008-D; $127.955 million Columbia Generating Station electric revenue refunding bonds, series 2008-D; $64.54 million Project 3 electric revenue refunding bonds, series 2008-D; $2.17 million Project 1 electric revenue refunding bonds, series 2008-E (taxable); $3.685 million Columbia Generating Station electric revenue and refunding bonds, series 2008-B (taxable); $2.61 million Project 3 electric revenue refunding bonds, series 2008-D (taxable); and $3.685 million Columbia Generating Station electric revenue bonds, series 2008-D (taxable).

The bonds are expected to be priced on May 19.

Moody's also affirmed the Aaa rating on the $1,938,640,000 outstanding Project No. 1 bonds; the Aaa rating on the outstanding $2,327,420,000 Columbia Generating Station bonds and the Aaa rating on the outstanding $1,909,430,000 Project No. 3 bonds. Moody's has also affirmed the Aaa issuer rating on the Bonneville Power Administration.

The current offering will refund various series of outstanding bonds for present value savings.

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