Fitch affirms PEC’s AA- rating
Cooperative’s financial outlook remains strong
PEC is committed to financial stewardship and responsible planning on behalf of its membership. That’s why we’re proud to share that Fitch Ratings, a nationally recognized credit ratings agency, affirmed PEC’s AA- rating on January 19, 2021.
“This rating places PEC among the most credit worthy borrowers in the U.S. and ensures our ability to finance our growth needs in the most cost-efficient manner,” said PEC Chief Financial Officer Randy Kruger. “It also reflects our strong balance sheet and the success of our programs to enhance liquidity.”
Key factors driving the rating include the cooperative’s very strong revenue framework, service area characteristics, and rate flexibility paired with low operating risk and low operating cost burden. The report also noted PEC’s high growth and affordable rates. To view the full Fitch Ratings report, visit their website at fitchratings.com.
PEC is the nation’s largest electric distribution cooperative, powering more than one million lives across its 8,100-square-mile service area, which includes some of the fastest growing counties in Texas. In November 2020, PEC was also named among the National Cooperative Bank’s top 100 co-ops.