Bangkok--13 Jul--Standard & Poor's
Standard & Poor's Ratings Services has assigned its 'A+' debt rating to the $150 million Campbell County, Wyo. solid waste facilities revenue bonds that the county plans to issue on behalf of Basin Electric Power Cooperative (Basin or the cooperative, or the utility) for capital investments at the utility's planned, coal-fired Dry Fork Station.
Standard & Poor's also affirmed its 'A+' issuer credit rating on Basin and its 'A+' underlying rating on the cooperative's senior secured rated debt. The outlook on these long-term ratings is stable. We also affirmed the 'A-1' rating on the utility's taxable CP and the tax-exempt Mercer County CP issued on Basin's behalf.
"The stable outlook reflects our assessment of a track record of reliable electric and synthetic natural gas operations and resulting strong financial metrics that compensate for the risk of eroded contributions from competitive businesses," said credit analyst David Bodek.
Complete ratings information is available to RatingsDirect subscribers at www.ratingsdirect.com. All ratings affected by this rating action can be found on Standard & Poor's public Web site at www.standardandpoors.com; select your preferred country or region, then Ratings in the left navigation bar, followed by Find a Rating.
Media Contact:
Ana Sandoval, New York (1) 212-438-5095, [email protected]
Analyst Contacts:
David Bodek, New York (1) 212-438-7969
Peter V Murphy, New York (1) 212-438-2065