Fitch Rating Agency Gives NES Bonds High Marks

Fitch Rating Agency Gives NES Bonds High Marks

Nashville, Tenn. – Fitch Rating Agency has affirmed Nashville Electric Service’s AA+ rating. The first time NES received a AA+ rating was in 2008. The AA+ rating reflects the utility’s strong operating performance, and the NES management team was cited for maintaining sound financial practices. The rating also takes into account recent damage to the system during the May 2010 flood. Revenue losses and estimated damage are manageable. NES expects FEMA and other insurance to cover 75% of the damage that occurred. “We are grateful that this respected rating agency has expressed such a high level of confidence in our ability to succeed,” said NES President & CEO Decosta Jenkins. “Our commitment is to deliver the highest level of customer service and reliability at the lowest reasonable price. The AA+ rating is on $520.9 million in outstanding electric system revenue bonds issued on behalf of NES. Nashville Electric Service is one of the 12 largest public electric utilities in the nation, distributing energy to more than 700,000 customers in Middle Tennessee.