Last week, Moody's Investors Service released a report detailing the rating considerations and the risks associated with stranded-costs securitizations.

"Investors should understand that each utility stranded-costs securitization is unique," said Bruce Fabrikant, vice president and senior credit officer at Moody's. "The political, regulatory and structural risks are different for each transaction and should be evaluated seperately. The report highlights both the quantitative and the qualitative risks of each transaction," he added.

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