TVA downplays S&P’s rating downgrade
NORTH MISSISSIPPI — Standard & Poor’s has downgraded the TVA’s credit rating to “AA+,” but TVA says the downgrade is “not expected to have a material impact.”
TVA CFO John Thomas said the utility’s top credit rating otherwise has been reaffirmed by Moody’s Investors Service Inc. Fitch rating service has yet to change its TVA bond rating.
Thomas said the fundamental financial strength of TVA is unchanged. He said TVA understands that as a government-owned enterprise, a change in the rating of U.S. government securities can impact TVA.
TVA said in a statement yesterday that it receives no taxpayer dollars and its debt is not part of the national debt.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Half century of memories — Christmas on Deer Creek to celebrate 50th anniversary
- Prison-contract task force working in wake of Epps' indictment
- Bryant wants free tuition for students with technical diploma
- (UPDATE) Gov. Bryant: $1.2 billion aluminum plant is a very exciting proposition for the state of Mississippi
- Analyst: KiOR Columbus plant may end up sold as scrap
- Prescott leads field for Conerly Trophy as state's best football player
- County to ask if it can use unspent hurricane recovery money
- UM Chancellor Jones: Lymphoma treatment going well
- BILL CRAWFORD: Bryant’s tax cut won’t stop spending growth