Illinois Administrative Code › Title 83 - PUBLIC UTILITIES › Part 340 - MONEY POOL AGREEMENTS › Section 340.20 - Definitions

Current through Register Vol. 48, No. 28, July 12, 2024
"Affiliate" has the same meaning as the phrase affiliated interests
				as defined in Section 7-101(2)(ii) [220 ILCS
				5/7-101(2)(ii) ].
"Cash management" means aggregating customer receipts and paying all
				vendors and other operating requirements.
"Credit rating agency" means Standard & Poor's or its successor,
				Moody's Investors Service or its successor, or Fitch Ratings or its
				successor.
"Financial Institution" means a bank, savings and loan, savings
				bank, credit union, insurance company, or other institution that collects funds from
				the public to place in financial assets such as stocks, bonds, money market
				instruments, bank deposits or loans.
"High-grade credit issuer" means a company that has the following
				credit ratings from at least two of the following three major credit rating agencies
				and a higher, equivalent or no credit rating from the third credit rating agency: A-
				or above by Standard & Poor's or its successor; A3 or above by Moody's Investors
				Service or its successor; or A- or above by Fitch Ratings or its successor.
"High-grade committed credit facility" means credit lines that
				permit the person to draw funds from financial institutions that are high-grade
				credit issuers.
"Issuance costs" means any interest, premiums, discounts,
				commissions, or fees paid in connection with any loans to a party to the money pool
				agreement.
"Large utility" means a utility that has $50,000,000 or more in
				total capitalization as reported in the annual report the utility files with the
				Chief Clerk of the Commission.
"Medium-grade credit issuer" means a company that has the following
				issuer credit ratings from at least two of the following three major credit rating
				agencies and a higher, equivalent or no credit rating from the third credit rating
				agency: BBB or above by Standard & Poor's or its successor; Baa2 or above by
				Moody's Investors Service or its successor; or BBB or above by Fitch Ratings or its
				successor.
"Medium-term note" means a note with a maturity of greater than one
				but no more than ten years.
"Money pool agreement" means any agreement that provides a mechanism
				for borrowing or lending monies among affiliates repayable on demand or for original
				terms to maturity of 365 days or less, but excluding routine bank transactions as
				defined in 83 Ill. Adm. Code
				105.10.
"Parent company" means every company owning or holding, directly or
				indirectly, 10% or more of the voting capital stock of a utility or every company in
				any chain of successive ownership of 10% or more of voting capital stock.
"Service company" means a mutual or subsidiary service company
				approved by the Securities and Exchange Commission pursuant to
				17 CFR
				250.88 or a company providing services to
				utilities pursuant to an agreement that has been approved by the Commission under
				Section 7-101 or 7-102 of the Act.
"Short-term" means one year or less.
"Small utility" means a utility that has less than $50,000,000 in
				total capitalization as reported in the annual report the utility files with the
				Chief Clerk of the Commission.
"Surplus funds" means funds that are not needed for the immediate
				short-term cash requirements of the utility.
"Total capitalization" means the sum of short-term debt, long-term
				debt, preferred stock and common equity for the entire company.
"Utility" means public utilities as defined in Section 3-105 of the
				Act, incumbent local exchange carriers that provide noncompetitive services as
				defined in Section 13-202.5 of the Act, and electing providers as defined in Section
				13-506.2 of the Act, but excluding local exchange telecommunications carriers with
				no more than 35,000 subscriber access lines pursuant to Section 13-504(d) of the Act
				that are not electing providers as defined in Section 13-506.2 of the
				Act.