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
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or sending an e-mail to research_request@standardandpoors.com. Ratings
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