Fitch Ratings gives TVA bonds ‘negative’ outlook

NORTH MISSISSIPPI — Fitch Ratings has assigned an “AAA” rating to the $1-billion 2012 series B Tennessee Valley Authority (TVA) global power bonds.

The bonds were priced Dec. 18, 2012. Proceeds from the 2012 series B bonds will be primarily used to refinance outstanding debt.

In addition Fitch awarded a parity global power bond rating of “AAA” on the $22.6-billion (as of Sept. 30, 2012) global power bonds.

The rating outlook is “negative.”