Gas Transmission Northwest Corp.
Third Revised Volume No. 1-A
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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
18. OPERATING PROVISIONS (Continued)
18.3 Creditworthiness (Continued)
(D) Creditworthiness for Interruptible Transportation Service
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.