Monroe Gas Storage Company, LLC

Original Volume No. 1

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Effective Date: 04/29/2009, Docket: RP09-447-000, Status: Effective

Original Sheet No. 114 Original Sheet No. 114

 

GENERAL TERMS AND CONDITIONS

(Continued)

 

2. CONTRACTING FOR STORAGE SERVICE (Continued)

 

2.3 Creditworthiness (Continued)

 

(b) Minimum Acceptable Credit Rating (Continued)

 

(2) If Potential Customer/Customer's debt is not rated by S&P or

Moody's, Potential Customer/Customer may elect to obtain an

equivalent credit rating to establish its creditworthiness.

Such equivalent credit rating must meet the minimum rating

requirement set forth in Section 2.3(b)(1) of these General

Terms and Conditions and may be obtained in one of the

following two ways:

 

(A) Potential Customer/Customer may request an equivalent

rating as determined by Operator, based on the

financial rating methodology, criteria and ratios for

the industry of Potential Customer/Customer as

published by S&P and Moody's from time to time. In

general, such equivalent rating will be based on the

audited financial Schedules for Potential

Customer/Customer's two most recent fiscal years, all

interim reports and any other relevant information.

Operator shall apply financial evaluation standards

consistently and on a non-discriminatory basis. If

Potential Customer/Customer requests an equivalent

rating determination by Operator and Potential

Customer/Customer is found not to meet the minimum

requirements set forth in Section 2.3(b)(1) above,

Operator shall inform Potential Customer/Customer of

the basis of such finding.

 

(B) Potential Customer/Customer may, at its own expense,

obtain an equivalent rating from a credit rating

agency acceptable to Operator, or request that an

independent accountant or financial advisor mutually

acceptable to Operator and Potential Customer/Customer

prepare an equivalent rating based on the financial

rating methodology, criteria and ratios for the

industry of Potential Customer/Customer as published

by S&P and Moody's.