Fitch upgrades Golden Spread

Fitch Ratings said it upgraded Golden Spread Electric Cooperative's $45.45 million secured bonds series 2005 to A from A-.

The outlook is stable.

The upgrade reflects the consistently strong financial metrics generated by Golden Spread in recent years, as well as the progress toward implementing a 10-year capital plan that will provide members a stable power supply for many years, Fitch said.

Leverage and liquidity have weakened since 2007, but Golden Spread's financial metrics remain well above the category medians, the agency said.

Golden Spread's financial position is supported by the strong credit quality of its 16 member distribution cooperatives, Fitch said.

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