PEFCO lowered the maximum limit for CP borrowings to $2 billion from $2.
As formalized in its credit documents, PEFCO has stringent guidelines and limits in place for the issuance of MTNs to mitigate liquidity risk.
All secured debt issued by PEFCO is collateralized by loans guaranteed by Ex-Im and is rated 'AAA'.
PEFCO's Short-Term IDR and commercial paper rating of 'F1+' correspond to its Long-Term IDR of 'AAA' and reflects Fitch's view that PEFCO has the highest short-term credit quality.
Longer-term, if Ex-Im's charter is not reauthorized and its Board of Directors does not have a voting quorum, Fitch believes that PEFCO may continue to decrease in size.
, a Delaware corporation, is principally engaged in making U.
According to PEFCO Chairman, President and Chief Executive Officer, Delcour S.
PEFCO was established in 1970 with the support of Ex-Im Bank and the United States Department of the Treasury to assist in financing exports of U.