Section 340.20  Definitions

"Affiliate" has the same meaning as the phrase affiliated interests as defined in Section 7-101(2)(ii) [220 ILCS 5/7-101(2)(ii)].

"Cash management" means aggregating customer receipts and paying all vendors and other operating requirements.

"Credit rating agency" means Standard & Poor's or its successor, Moody's Investors Service or its successor, or Fitch Ratings or its successor.

"Financial Institution" means a bank, savings and loan, savings bank, credit union, insurance company, or other institution that collects funds from the public to place in financial assets such as stocks, bonds, money market instruments, bank deposits or loans.

"High-grade credit issuer" means a company that has the following credit ratings from at least two of the following three major credit rating agencies and a higher, equivalent or no credit rating from the third credit rating agency: A- or above by Standard & Poor's or its successor; A3 or above by Moody's Investors Service or its successor; or A- or above by Fitch Ratings or its successor.

"High-grade committed credit facility" means credit lines that permit the person to draw funds from financial institutions that are high-grade credit issuers.

"Issuance costs" means any interest, premiums, discounts, commissions, or fees paid in connection with any loans to a party to the money pool agreement.

"Large utility" means a utility that has $50,000,000 or more in total capitalization as reported in the annual report the utility files with the Chief Clerk of the Commission.

"Medium-grade credit issuer" means a company that has the following issuer credit ratings from at least two of the following three major credit rating agencies and a higher, equivalent or no credit rating from the third credit rating agency: BBB or above by Standard & Poor's or its successor; Baa2 or above by Moody's Investors Service or its successor; or BBB or above by Fitch Ratings or its successor.

"Medium-term note" means a note with a maturity of greater than one but no more than ten years.

"Money pool agreement" means any agreement that provides a mechanism for borrowing or lending monies among affiliates repayable on demand or for original terms to maturity of 365 days or less, but excluding routine bank transactions as defined in 83 Ill. Adm. Code 105.10.

"Parent company" means every company owning or holding, directly or indirectly, 10% or more of the voting capital stock of a utility or every company in any chain of successive ownership of 10% or more of voting capital stock.

"Service company" means a mutual or subsidiary service company approved by the Securities and Exchange Commission pursuant to 17 CFR 250.88 or a company providing services to utilities pursuant to an agreement that has been approved by the Commission under Section 7-101 or 7-102 of the Act.

"Short-term" means one year or less.

"Small utility" means a utility that has less than $50,000,000 in total capitalization as reported in the annual report the utility files with the Chief Clerk of the Commission.

"Surplus funds" means funds that are not needed for the immediate short-term cash requirements of the utility.

"Total capitalization" means the sum of short-term debt, long-term debt, preferred stock and common equity for the entire company.

"Utility" means public utilities as defined in Section 3-105 of the Act, incumbent local exchange carriers that provide noncompetitive services as defined in Section 13-202.5 of the Act, and electing providers as defined in Section 13-506.2 of the Act, but excluding local exchange telecommunications carriers with no more than 35,000 subscriber access lines pursuant to Section 13-504(d) of the Act that are not electing providers as defined in Section 13-506.2 of the Act.

(Source:  Amended at 36 Ill. Reg. 3884, effective March 1, 2012)