Moody's Investors Service recently released its entity or counterparty rating on American Municipal Power, Inc. (AMP). The rating was A1. AMP has carried the entity rating from Moody's for the past 3 years. Although the previous entity rating was A1, this represented an upgrade from the December 2009 Hydro Project bond issue rating where Moody's had assigned an A2 credit rating to that particular issue. The counterparty rating is significant in that it is a total entity rating as opposed to a particular bond issue rating. A counterparty rating is relied upon by power supply providers, banks and other financial institutions doing business with AMP. An A1 rating as opposed to an A2 rating could the organization save millions of dollars in the next year in power supply costs and credit and financing costs.
View the official AMP News Release