TEXT-S&P: NRC ruling credit neutral for U.P. public power
Aug 10 - Earlier this month, the U.S. Nuclear Regulatory Commission (NRC) released an order suspending final decisions on licensing and relicensing applications for new and existing nuclear plants. The order expressly states that licensing and relicensing proceedings will continue while it develops a response to a recent federal appellate court decision that set aside the commission's rules governing the storage of spent nuclear fuel. In a report released today, entitled "The NRC's Suspension Of Final Nuclear Licensing Doesn't Affect U.S. Public Power And Cooperative Utility Ratings," Standard & Poor's Ratings Services said it believes that the NRC's order will not affect ratings on cooperative and public power utilities that rely on nuclear assets. "We base this on the licenses the NRC has already granted to proposed new nuclear plants under development with public power and cooperative participation," said Standard & Poor's credit analyst David Bodek. "In addition, with limited exceptions, license expirations are not imminent for nuclear plants with pending relicensing applications and public power and cooperative participation," Mr. Bodek added. Of note, the NRC's order says the commission is seeking a storage solution that complies with the court order and meets the industry's needs. The report is available to subscribers of RatingsDirect on the Global Credit Portal at www.globalcreditportal.com. If you are not a RatingsDirect subscriber, you may purchase a copy of the report by calling (1) 212-438-7280 or sending an e-mail to firstname.lastname@example.org. Ratings information can also be found on Standard & Poor's public Web site by using the Ratings search box located in the left column at www.standardandpoors.com. Members of the media may request a copy of this report by contacting the media representative provided.
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