The Texas state Supreme Court ruled last Wednesday in favor of two issuers' planned stranded cost securitizations, clearing the path for approximately $2.097 billion of rate reduction bonds to eventually be sold.

The larger of the pending offerings, $1.3 billion from TXU Transition Bond Co LLC, a vehicle of TXU Corp., is now scheduled to price in the fourth quarter 2001. Also, the court upheld the proposed offering of a $797 million deal from Central P&L.

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