Tri-State receives upgraded credit rating

Cooperative power supplier recognized for sound financial profile
Member cooperative rates remain stable

Tri-State Generation and Transmission Association’s credit rating has been upgraded by Moody’s Investors Service, benefiting from what the rating agency reports is a "stable outlook, sound financial profile and ample liquidity resources." The association’s financial ratings were raised from Baa1 to A3.

"Tri-State’s Board of Directors has shown a strong commitment to protect its member cooperatives from the risks in the marketplace while placing the association in a good financial position," said Ken Anderson, executive vice president and general manager of Tri-State. "This is reflected in the upgrade from Moody’s."

"Today’s rating action reflects Moody’s view that Tri-State's future rate setting plans and long-term financial objectives will allow the cooperative to maintain key financial metrics on a level consistent with the higher rating," stated the Moody’s report.

In passing its 2011 budget this fall, the association’s board of directors announced that there would be no change to the wholesale rate charged to its membership for the second consecutive year, owing, in large part, to the G&T’s positive performance and cost containment measures.

In addition, during the past several years, Tri-State has entered into contracts with other utilities and independent power producers to obtain, renewable, intermediate and long-term baseload resources necessary to meet growing member obligations and greatly reduce its exposure risk from purchasing potentially volatile market-based power.  

Updated: November 10, 2010