Gas Transmission Northwest Corp.

Third Revised Volume No. 1-A

 Contents / Previous / Next / Main Tariff Index

 

 

Effective Date: 01/01/2007, Docket: RP06-407-000, Status: Effective

Second Revised Sheet No. 137 Second Revised Sheet No. 137 : Effective

Superseding: First Revised Sheet No. 137

TRANSPORTATION GENERAL TERMS AND CONDITIONS

(Continued)

 

18. OPERATING PROVISIONS (Continued)

 

18.3 Creditworthiness (Continued)

 

(D) Creditworthiness for Interruptible Transportation Service

(Continued)

 

(2) (Continued)

 

Shipper's creditworthiness shall be determined by providing

proof of one of the items listed below:

 

(a) A rating for unenhanced senior unsecured debt of at

least BB+ by Standard & Poor's or Ba1 by Moody's. In

the event that a split rating occurs between rating

agencies, GTN will rely upon the lower of the ratings.

 

(b) Audited financial statements for itself, or for its

parent company if it is a subsidiary that is

consolidated with its parent company for reporting

purposes and does not issue stand-alone financial

statements, for the two (2) preceding years that in

GTN's opinion demonstrate adequate financial strength.

 

(c) An estimated financial strength rating by Dun and

Bradstreet sufficient to cover the credit to be

extended and a corresponding Dun and Bradstreet

composite credit appraisal of "fair" or better.

 

(3) Shipper's credit limit for interruptible transportation will

be established by GTN based upon the audited financial

statements for the Shipper's two (2) most recent fiscal

years, all interim reports, and any other relevant

information. If Shipper does not establish or maintain

creditworthiness as described above, or if Shipper's credit

limit as determined by GTN is insufficient to cover

Shipper's contractual obligations, Shipper has the option of

receiving interruptible transportation service under this

FERC Gas Tariff by providing to GTN a guarantee acceptable

to GTN, collateral (i.e., cash or letter of credit), or

security as described in (a) through (e) below. GTN may not

unreasonably prevent a shipper from later switching the type

of credit alternative that it provides.

 

 

(Continued)