Newsroom Archive

Moody’s Affirms AMP A1 Issuer Rating

Published on: 04/11/2013

On April 10, Moody’s Investors Service affirmed the A1 issuer rating on American Municipal Power, Inc. (AMP). In addition to affirming the A1 rating, Moody’s identified the outlook as stable.

The issuer rating is significant in that it is a total entity rating as opposed to a specific bond issue rating. This rating is relied upon by power supply counterparties, banks and financial institutions doing business with AMP. An A1 rating as opposed to a lower rating means AMP and its members will realize significant savings in power supply costs and credit and financing costs over the long term.

In the rating affirmation, among other things, Moody’s recognized AMP’s established role in providing competitive and reliable wholesale power supply to its diverse membership; the financial strength of AMP member utilities; AMP’s credit monitoring system; AMP’s strong financial liquidity position; and its strong strategic planning to diversify and manage member power supply. Moody’s noted that AMP is providing a more diverse resource mix for its members and reducing reliance on market purchases, creating more competitive and reliable options.

“This rating is very important to AMP, our members and the financial community,” AMP Sr. Vice President and Chief Financial Officer Robert Trippe said. “AMP staff, our Board of Trustees and our members work diligently to maintain creditworthiness through sound management, financial best practices, and strategic planning. The affirmed A1 rating is the result of these efforts.”

View official AMP news release

View Moody’s news release on AMP’s Financial Reports web page