Moody’s lifts Golden Spread to A2

Moody's Investors Service said it upgraded Golden Spread Electric Cooperative, Inc.'s (GSEC) issuer rating to A2 from A3.

The outlook is stable.

"The rating action reflects GSEC's credit positive traits, including improved prospects for maintaining strong financial metrics, owing to earlier than anticipated completion of its capital spending program to add capacity and reduce the cooperative's reliance on purchased power; medium-term rolling wholesale power contracts with its members, which support predictable revenue and cash flow; as well as timely adjustment of rates under an autonomous rate setting structure," Moody’s vice president, senior analyst Kevin Rose said in a news release.

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