- Must be an energy company with at least 50% of either (1) Gross Assets or (2) Annual Gross Revenues derived from “Energy Operations”
- A minimum of $1 Billion of Gross Assets. Gross Assets means Property, Plant & Equipment before depreciation plus book value of inventories.
- Investment grade credit rating of at least “BBB-” (S&P) or “Baa3” (Moody’s)^
- Prospects with sub investment grade ratings are not allowed to join.
- Companies without a credit rating can obtain a “shadow rating” or will be subject to financial analysis by Everen staff and may be required to post acceptable security.
- Business operations that represent an appropriate spread of risk and “fit” within a mutual framework
Everen – Financial Security Guidelines