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September 27, 2004 |
Contact: Rae Todd 970-229-5255 |
FOR IMMEDIATE RELEASE |
Platte River Receives Upgraded Debt Rating FORT COLLINS, Colo. -- Fitch Ratings upgraded Platte River Power Authority's long-term credit rating on its subordinate lien debt from 'AA-' to 'AA'. With this upgrade, both senior and subordinate lien debt hold 'AA' ratings. Brian Moeck, Platte River's general manager is pleased by the upgrade. "We are constantly managing our risks and costs. This will ultimately benefit our owners--the residents of the communities we serve", he said. According to Fitch, Platte River's subordinate
lien debt upgrade to 'AA' reflects "…increased
financial strength maintenance of core business mission
and indefinitely sidelined electric deregulation
initiatives." Platte River Power Authority generates and transmits electricity to its owner communities of Estes Park, Fort Collins, Longmont and Loveland for delivery to their utility customers. Platte River's facilities are located along the Front Range, in northwestern Colorado and near Medicine Bow, Wyoming. -30- |