Moody's may upgrade Atlantic Holdings Path 15

Moody's Investors Service said it placed the Ba3 senior secured debt rating of Atlantic Holdings Path 15, LLC and Atlantic Path 15, LLC's Ba1 senior secured debt rating under review for possible upgrade.

The agency said the review for upgrade reflects the sustained strong financial results achieved in 2005 and 2006 following the timely completion of the Path 15 transmission line and the implementation of its transmission system rights revenues. Based on the revenue requirement approved by the Federal Energy Regulatory Commission, the company has achieved a ratio of consolidated funds from operation to debt on a Moody's adjusted basis of approximately 14% in 2005 and 13.8% in 2006 and a consolidated debt service coverage ratio greater than approximately 1.4x during the first two years of operation.

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