Sutherland Coop Law Blog
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Bond Rating Agencies Discount Talk of TVA Divestiture

The annual budget plan released by the Obama Administration earlier this month noted that the Tennessee Valley Authority (TVA) had achieved its original mission and should be sold or transferred to state governments or local power cooperatives in the Tennessee Valley.  Nonetheless, bond rating agencies Moody’s and Standard & Poor’s have discounted these proposals, and TVA has...