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KPUD bond rating downgraded

 

February 28, 2018



Moody’s Investment Service Inc. announced on Thursday that it has downgraded the Klickitat PUD’s revenue bonds from A2 to A3. The downgrade affects $131.2 million in outstanding, rated parity debt.

Moody’s report said the downgrade to A3 from A2 reflects continued weakness in the district’s wholesale sales and the construction risks associated with substantial new debt for capital improvements to improve the margins on its wholesale activities. It added that the rating also reflects a small, stable retail operation that serves a mostly rural, residential community.

Addressing factors that could lead to an upgrade, the report said, “Successful conversion of the landfill natural g...



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