Gas Transmission Northwest Corp.

Third Revised Volume No. 1-A

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Effective Date: 01/01/2007, Docket: RP06-407-008, Status: Pending

Sub Second Revised Sheet No. 133A Sub Second Revised Sheet No. 133A : Pending

Superseding: First Revised Sheet No. 133A

TRANSPORTATION GENERAL TERMS AND CONDITIONS

(Continued)

 

18. OPERATING PROVISIONS (Continued)

 

18.3 Creditworthiness (Continued)

 

(A) Creditworthiness for Firm Transportation Service (continued)

 

(2) Determining Creditworthiness

 

A Shipper seeking new service shall initially provide

financial statements, evidence of debt and/or credit

ratings, and other such information as is reasonably

requested by GTN to establish Shipper's qualification for

service. Within three (3) business days, or such later date

acceptable to GTN, an existing Shipper shall provide such

information as is reasonably requested by GTN to confirm

Shipper's qualification for service.

 

(a) Creditworthiness must be evidenced by a rating for

unenhanced senior unsecured debt of at least BBB by

Standard & Poor's, Baa2 by Moody's, or an equivalent

rating as determined by GTN. In the event that a

split rating occurs between rating agencies, GTN will

rely upon the lower of the ratings. An equivalent

rating may be obtained in one of two ways:

 

(i) If Shipper's debt is not rated by a recognized debt

rating service, Shipper may request an equivalent

rating as determined by GTN, based on the financial

rating methodology, criteria and ratios for the

industry of the Shipper as published by the above

rating agencies from time to time. In general,

such equivalent rating will be based on the audited

financial statements for the Shipper's two (2) most

recent fiscal years, all interim reports, and any

other relevant information.

 

(ii) If Shipper's debt is not rated by a recognized debt

rating service, Shipper may, at its own expense,

obtain a private rating from a recognized debt

rating service acceptable to GTN, or request that

an independent accountant or financial advisor,

mutually acceptable to GTN and the Shipper, prepare

an equivalent evaluation based on the financial

rating methodology, criteria, and ratios for the

industry of the Shipper as published by the above

rating agencies.

(Continued)