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Benton PUD financial ratings from
Standard & Poors, Moody’s and Fitch Ratings
were updated. All three rating agencies had positive
news for Benton PUD. Standard & Poors upgraded Benton
PUD to a “A-“ from a BBB+. Moody’s
and Fitch Rating Agencies affirmed their rating of “A3”
and “A-“, respectively.
Ratings issued by these companies are a guide to investors
to show the strength of an organization based on the
financial stability and business environment of the
utility.
“We are pleased that the rating
agencies have recognized the financial health of our
utility” said Chad Bartram, Benton PUD’s
Director of Finance. “We have worked hard to keep
our costs down while managing our way through two consecutive
years of well-below-average energy production from Northwest
dams.”
Fitch noted that the ongoing credit fundamentals that
support the District’s rating include a favorable
and growing service territory, a defined power supply
strategy and historically good financial performance
characterized by solid debt service coverage levels
and adequate liquidity. Other financial strength’s
mentioned were the District’s conservative budget
assumptions regarding off-system sales, a power adjustment
rate clause and a cautious, yet effective risk management
policy.
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