Bush urges TVA to modify debt estimates
The Bush administration last month said it intends to propose legislation that will require the Tennessee Valley Authority (TVA), the largest public power producer in the US, to count its lease-leaseback deals as debt.
In 2000, TVA began using a financing arrangement known as a ‘lease-leaseback’ to refinance new power plants, supplementing its traditional reliance on financing with cash generated by operations and the issuance of bonds and notes. As
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