NASHVILLE, Tenn. – Standard & Poor’s Ratings Services has assigned an AA+ rating to the bond issuance for Nashville Electric Service (NES) and affirmed the AA+ rating to all bonds currently outstanding, placing NES among the few public power utilities nationwide to receive the high ranking.
“I am gratified that this respected rating agency expresses such a high level of confidence in our ability to succeed,” said NES Executive Vice President & Chief Financial Officer Teresa Broyles-Aplin. “Our commitment is to deliver the highest level of customer service and reliability at the lowest reasonable price.”
The rating reflects NES’ consistently healthy financial metrics and strong operating performance. Other strengths include competitive rates and a strong service territory.
NES will issue $113 million in electric system revenue refunding bonds, 2015 Series A. Proceeds will be used to refund portions of outstanding bonds.
Nashville Electric Service (NES) is one of the 12 largest public electric utilities in the nation, distributing energy to more than 370,000 customers in Middle Tennessee. Founded in 1939, NES is proud to be celebrating 75 years as a community partner and service provider. For more information, visit www.nespower.com.