JOHNSON, Vt. (AP) - A major credit rating agency has upgraded the Vermont Electric Co-op.
The Johnson-based co-op announced on Wednesday it's been boosted to an A rating - meaning that while it is somewhat susceptible to economic risks, its overall creditworthiness is strong. The co-op previously had been rated at A-minus, and has seen steady improvement since it got a BBB- rating in 2007.
Co-op CEO Dave Hallquist says the stronger rating will keep the cost of financing low. He says it will help VEC diversify its power portfolio and keep costs low for members.
S&P cited a combination of cost management, moderate growth, and regulatory support as factors contributing to the co-op's higher credit rating.
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