Kentucky Coop’s Financial Improvements Reflected in Credit Ratings
Posted on Nov 7, 2011 in Corporate Governance, Financing | Comments Off on Kentucky Coop’s Financial Improvements Reflected in Credit Ratings
East Kentucky Power Cooperative announced that it has established credit ratings with Standard & Poor’s and Fitch. The new ratings reflect substantial financial improvements at the coop, which lost money in 2004 and 2005. After establishing a profit in 2006, the coop applied for and received approval for multiple rate increases. The coop’s chief financial officer says that the new ratings will give the coop better access to financing in the private market. The Lexington Herald-Leader has more.
