Chugach bonds rated "A+", "A2" and "A"
Chugach Electric Association has received an "A" rating or better from three national rating firms in conjunction with its upcoming $180 million bond issue. Chugach's "A" rating is considered "investment grade" and allows Chugach ready access to capital and at favorable interest rates.
Fitch Investors Service in New York City is one of three national rating agencies that has regularly issued credit ratings on Chugach bonds since the company entered the bond market in 1991. Since that time Chugach has maintained an investment grade bond rating. Fitch not only assigned an "A+" rating on the outstanding bonds, but also assigned an "A+" rating to the 2002 Series A and B bonds due in 2012.
Moody's Investors Service rated Chugach "A2" based on Chugach's sustained financial performance.
Standard and Poor's recognized Chugach's credit strengths and affirmed an "A" rating with a stable outlook.
Chugach intends to insure the 2002 series issue bonds which will result in a "AAA" rating, the highest achievable.
Chugach is the largest electric utility in Alaska, providing power for Alaskans throughout the Railbelt through retail, wholesale and economy energy sales.