Credit Information

PPM Energy Inc. (PPM) and PPM Energy Canada (PECL) are part of the Iberdrola, S.A. family of companies operating wind, power and gas storage assets in North America. Credit support for PPM and PECL is through Scottish Power Finance (US) Inc. ("SPF(US)").

SPF(US) is incorporated under the laws of the State of Delaware, and is a wholly-owned, indirect subsidiary of ScottishPower (SP). Click here for ScottishPower financial information.

Iberdrola recognizes the importance of maintaining appropriate credit ratings in Scottish Power Finance (US), Inc. and ScottishPower as required to support PPM and PECL in its continued growth throughout the US and Canada. Click here for Iberdrola group financial information.

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Credit Rating

At present, SPF(US) holds no assets and no liabilities, but is backed by the full support of SP, which has provided an unlimited guaranty to SPF(US). Standard & Poor's (S&P) and Moody's Investor Service (Moody's) have reviewed this guaranty. On the basis of SP's unconditional support for SPF(US), S&P and Moody's have issued Senior Unsecured Credit Ratings for SPF(US) of BBB+/Baa1 and S&P has issued a corporate credit ratings of A-.

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Credit Risk Management Contacts

Contact any of the following individuals regarding PPM Energy or PECL credit information:

Craig Ward
Director of Credit Risk
Phone: (281) 379-7416; Fax: (281) 379-7444

Annette Sturgill
Credit Manager
Phone: (503) 241-3214; Fax: (503) 796-6902

Susan Cooley
Senior Credit Analyst
Phone: (281) 379-7431; Fax: (281) 379-7444

Lee Schook
Senior Credit Analyst
Phone: (503) 241-3217; Fax: (503) 796-6902

Toby Harrington
Senior Credit Analyst
Primary Margin Contact
Phone: (503) 241-3215; Fax: (503) 796-6902

Erica Kang
Senior Credit Analyst
Phone: (503) 241-3203; Fax: (503) 796-6902

Kim Moseley
Senior Credit Analyst
Phone: (281) 379-7427; Fax (281) 379-7444

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