EPB officials on Friday announced an upgrade by Standard & Poors in the utility’s 2008 Series A Bond rating to ‘AA+’ with a stable outlook.
“The upgrade from Standard & Poors reflects the company’s consistent financial and operational performance,” said Greg Eaves, EPB’s Chief Financial Officer, “In only its third year of operation, the EPB Fiber Optics business is even stronger than we anticipated, and the Smart Grid is already delivering benefits.
”Several positive factors have emerged since the most recent S&P bond rating of ‘AA’. With nearly 45,000 homes and businesses connected, the EPB Fiber Optics business continues to build market share and is providing the electric system significant financial benefit. Additionally, the EPB Fiber Optics business has secured private financing for the remainder of its startup debt and is now covering all costs from telephone, video and Internet revenue. Nearing completion, the Smart Grid is already providing value to the company in outage notification and restoration, asset management, and voltage optimization."