WENATCHEE — S&P Global continues to award the Chelan County PUD an AA+ stable bond rating, which is largely due to the utility’s debt reduction over the past decade.
The PUD has cut its debt in half since 2010 and its debt ratio is now 34 percent. Commissioners were informed of the rating in a meeting Monday, according to a PUD press release.
The utility also has an AA+ rating from Fitch Ratings and an Ae3 rating from Moody’s Investor Service, according to the release.
“The District has been working hard to achieve this level that puts us among the most highly rated public utilities by S&P and Fitch,” Treasurer Debbie Litchfield said in the release.
In the meeting commissioners also discussed future upgrades to the PUD’s distribution system and heard that 2,100 customers have taken its strategic planning survey so far, according to the release.
The PUD commissions of Grant, Douglas and Chelan counties will hold a joint meeting on July 15 at 5:30 p.m. at the Mai Lee Thai restaurant in East Wenatchee.