Moodys affirms rating on MEAN's revenue bonds
May 23, 2018
Moody’s Investors Service recently affirmed the A2 rating on a portion of the Municipal Energy Agency of Nebraska’s (MEAN) power system supply revenue bonds. The rating outlook is stable.
The rating agency stated the rating affirmation reflects the stable credit quality of MEAN’s long-term total requirements municipal electric utilities as well as the diversity of its participants with no participant accounting for more than 10 percent of MEAN’s revenues.
“MEAN has an established track record to raise rates when necessary while providing competitive priced power to its participants,” the opinion stated.
The report cited possible factors that could have a positive or negative impact on future ratings. Possible factors that could lead to an upgrade include sustained improvement in the credit quality of MEAN’s participants and higher fixed charge coverage ratios.