ED3 gets ‘A’ rating from Standard & Poor’s

Standard & Poor's Ratings Services assigned its 'A' long-term rating to Electrical District No. 3’s $115.5 million series 2011 electric system revenue bonds.

"The rating reflects our view of the district's good financial performance, relatively low-cost and carbon-free supply portfolio, competitive retail rates, and strong financial policies with regard to reserves," said S&P credit analyst Paul Dyson.

A credit rating is S&P's opinion on the general creditworthiness of a business with respect to a particular debt security or other financial obligation.

“I am very proud of all the employees at ED3 for their hard work to achieve this great rating,” said ED3 General Manager William Stacy.

The stable outlook review reflects S&P’s view of ED3's good liquidity, projected good financial margins, strong reserve policies and power cost adjustment mechanism that serves to stabilize finances through cost recovery.