���������ֳ�

The ‘A+’ bond ratings reflect the strong financial profile of the Lower Colorado River Authority (LCRA) Transmission Services Corp. (TSC) in the context of its very low operating risk profile and the strength of its regulated revenue framework in the Electric Reliability Council of Texas (ERCOT) market, in which TSC operates. Transmission revenue is regulated by the Public Utility Commission of Texas (PUCT) and collected from all retail customers within ERCOT. The regulatory framework provides a consistent and dependable cost recovery methodology and rate of return.