S&P Global Ratings recently affirmed its ‘A’ long-term rating on the Municipal Energy Agency of Nebraska’s (MEAN) outstanding bond obligations.
S&P’s report cited as benefits contributing to the rating:
- The majority of MEAN’s participants are long-term total requirements participants (Service Schedule M), which provided 89 percent of MEAN’s electric energy sales revenue in 2022.
- A practiced management team that has implemented credit-supportive financial policies and practices, including a restructuring of rates in 2015 to include a fixed-cost recovery charge designed to capture a significant portion of MEAN’s costs that do not vary by electricity demand.
The stable outlook reflects S&P’s view of MEAN’s sizable liquidity, the agency’s strong rate-setting practices, and the number and diversity of its participants.