Fitch changes South Texas Electric to positive

Fitch Ratings said it affirmed the rating on South Texas Electric Cooperative's implied senior secured obligations at A-.

The rating is on implied senior secured obligations because none of South Texas Electric’s currently $920 million of outstanding long-term debt is publically held.

The outlook was revised to positive from stable.

South Texas Electric has prudently managed a period of rapid growth while maintaining consistently strong financial margins and reducing the size of its capital program. The positive outlook reflects Fitch's expectation that this trend will continue, supported by new financial policies and that the upward rating movement is likely.

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