David: Mark and I were reviewing the Eligible Swap Participant rules and the  following issue came up:  If our counterparty is a limited partnership but our credit group is relying  on the credit of the GP, do the rules require a written guaranty from the GP  or is it enough to rely on the fact that under law the GP is jointly and  severally liable for the LP's obligations?
One of our counterparties is a  limited partnership whose GP is a utility and their counsel has advised us  that for regulatory reasons, the GP cannot enter into a Guaranty.
I look  forward to hearing from you.
Carol

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