Alectra Finance is in the market with a €1.197 billion ($1.62 billion) securitization of the 2005 Spanish electricity tariff deficit.

According to Moody's Investors Service, which rated the deal 'Aaa', the deal will securitize payments made by the Spanish Comision Nacional de Energia relating to the compensation entitlement that arose as a result of the funding by certain Spanish electricity utility companies of a deficit arising in the settlement of the costs of the regulated activities of the Spanish electricity sector in 2005.  

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