Chelan PUD in the Top Five Public Utilities in the U.S. to Receive S&P AA+ Stable Rating (Washington PUD Association)

(WENATCHEE, WA) -- Chelan County PUD received some outstanding news from S&P Global Ratings (S&P) as a result of a recent review announced May 16. S&P upgraded the PUD's Consolidated System debt to AA+/Stable from AA/Stable. This rating puts Chelan PUD in the top five public utilities highly rated by S&P. The AA+/Stable rating matches one received from Fitch Ratings in October 2008 and affirmed in September 2017.

Some of the reasons for the S&P rating upgrade include:

• Chelan PUD's very strong risk management and financial policies
• Rapidly declining debt 
• Improved cash position/liquidity
• Experienced management team
• Extremely low-cost power 

S&P noted that the PUD achieved these accomplishments without a retail rate increase in six years. The PUD's low rates give the utility financial flexibility. In addition to the PUD's financial strength and stability, the low operating costs from  hydropower generation also contributed to the positive review. S&P also commented on the PUD's surplus generation hedging practices as beneficial to reducing the impact of energy market volatility on the PUD's revenues.