This week, Buckeye Power, Inc., received investment-grade A ratings from Standard & Poor’s (S&P) and Fitch Ratings — two of the nation’s leading credit rating agencies. S&P’s rating of Buckeye Power was an upgrade from the previous A- rating, while Fitch’s existing A rating was affirmed. Additionally, Fitch revised Buckeye Power’s outlook from “negative” to “stable.”
In their reports, the agencies cited Buckeye Power’s wholesale power agreements, the credit quality of its membership base and its industry-average levels of debt as key financial strengths.
“We’re financially strong because our member co-ops are financially strong,” said Bill Roberts, Buckeye Power’s vice president of finance and accounting and chief financial officer. “This isn’t simply our accomplishment — it’s an accomplishment for every single Buckeye Power member cooperative.”
Investment-grade credit ratings ensure Buckeye Power’s continued ability to borrow at low interest rates.