Home » NEWS » Energy » Power co-op gets bond rating upgrade after exiting Kemper deal
Completion of the power plant in Kemper County was more than three years behind schedule.

Power co-op gets bond rating upgrade after exiting Kemper deal

Cooperative Energy and its 11 co-op members will see lower debt costs on $35.4 million bond


By TED CARTER / Hattiesburg Business Today

Bailing out of its 15 percent ownership stake in Mississippi Power’s Kemper gasification plant has helped Hattiesburg-based Cooperative Energy gain a ratings upgrade on a $35.4 million bond issue.

The electric power co-op, which changed its name to Cooperative Energy from South Mississippi Electric Power Association in November, received a ratings upgrade from A- to A for its 2009 2009A Mississippi Business Finance Corporation Gulf Opportunity Zone Bonds.

“This rating upgrade reflects the success of our strategy to move from purchased power to owned generation resources, and from coal to natural gas and renewable energy,” said Cooperative Energy President/CEO Jim Compton in a press release.  “The result for our members is lower borrowing costs and more favorable rates.”

An “A” rating from Fitch designates the bond issue as “near premium quality.”

» READ complete story here at the Hattiesburg Business Today


… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Ted Carter

Leave a Reply

Your email address will not be published. Required fields are marked *