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.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Mad Genius, Eyevox owner acquires Mississippi Film Studios
- McDaniel files legal arguments as he looks to overturn Cochran loss
- Tragedy for Jackson Prep: Football player Walker Wilbanks dies
- Payday lender, fired executive exchanging blame for lender’s regulatory woes
- UMMC reaching out after death of high school football player
- Fitch gives Mississippi Power a negative outlook due to Kemper plant
- Mississippi River mayors announce 'seed money' for waterfront developments
- UPDATED: Jackson agrees to repay HUD $1.5 million for Farish Street blunders
- Payday lender expects clean bill from regulators