Trailblazer Pipeline Company

Fourth Revised Volume No. 1

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Effective Date: 12/28/2007, Docket: RP08-168-000, Status: Effective

Original Sheet No. 168 Original Sheet No. 168 : Effective





If a Shipper does not meet the criteria described

above, then such Shipper may request that Trailblazer evaluate its

creditworthiness based upon the level of its current and requested

service(s) on Trailblazer relative to the Shipper's current and future

ability to meet its obligations. Such credit appraisal shall be based

upon Trailblazer's evaluation of the following information and credit



(1) S&P and Moody's opinions, watch alerts, and

rating actions and reports, ratings, opinions and other actions by Dun

and Bradstreet and other credit reporting agencies will be considered

in determining creditworthiness.


(2) Consistent financial statement analysis will be

applied by Trailblazer to determine the acceptability of the Shipper's

current and future financial strength. The Shipper's balance sheets,

income statements, cash flow statements and auditor's notes will be

analyzed along with key ratios and trends regarding liquidity, asset

management, debt management, debt coverage, capital structure,

operational efficiency and profitability.


(3) Results of bank and trade reference checks and

credit reports must demonstrate that the Shipper is paying its

obligations in a timely manner.


(4) The Shipper must not be operating under any

chapter of the bankruptcy laws and must not be subject to liquidation

or debt reduction procedures under state laws and there must not be

pending any petition for involuntary bankruptcy of the Shipper. An

exception may be made for a Shipper which is a debtor in possession

operating under Chapter XI of the Federal Bankruptcy Act if

Trailblazer is assured that the service billing will be paid promptly

as a cost of administration under the federal court's jurisdiction,

based on a court order in effect, and if the Shipper is continuing and

continues in the future actually to make payment.


(5) Whether the Shipper is subject to any lawsuits

or judgments outstanding which could materially impact its ability to

remain solvent.


(6) Whether the Shipper has or has had any

delinquent balances outstanding for services provided previously by

Trailblazer and whether the Shipper is paying and has paid its account

balances according to the terms established in its service agreements

(excluding amounts as to which there is a good faith dispute).