United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2001-04-30 monographic deposited born digital 20 p. GA 1.13:GAO-01-540 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-01-540 P0b002ee18037ca54 f:d01540 DGPO 2010-08-12 2011-03-23 GAOREPORTS-GAO-01-540 machine generated eng fdlp REPORT GAOREPORTS-GAO-01-540 GAO-01-540 Bonds (legal) Competition Financial analysis Electric utilities Federal corporations Interest rates Other Written Product A00927 While the criteria used to rate the bonds of the Tennessee Valley Authority (TVA) and other electric utilities are the same, they are weighted differently and, as a result, the basis for TVA's bond rating is more nonfinancial in nature than that for other electric utilities. According to bond analysts, TVA's high bond rating is largely based on the perception that its debt is federally backed because of its ties to the federal government as a wholly owned government corporation and its legislative protections from competition. If these conditions were to change, TVA's bond rating would likely be lowered, which in turn would affect the cost of new debt. This would add to its already high interest expense and corresponding financial challenges in a competitive market. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-01-540/html/GAOREPORTS-GAO-01-540.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-01-540/pdf/GAOREPORTS-GAO-01-540.pdf GAO-01-540 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-01-540 Other Written Product GAO-01-540; Tennessee Valley Authority: Bond Ratings Based on Ties to the Federal Government and Other Nonfinancial Factors; Bonds (legal) Competition Financial analysis Electric utilities Federal corporations Interest rates