Standard & Poor’s Rating Services recently raised the California Independent System Operator Corporation (ISO) issuer credit rating and senior secured rating to “A+” from “A” citing a strong and predictable financial performance.
The rating increase can lead to lower cost financing should the ISO issue debt in the future.
“The California ISO management and employees have a strong sense of responsibility to contain costs and conduct our business efficiently and productively,” said Steve Berberich, President and CEO. “I am very pleased that our hard work is recognized by S&P as we continue to be good and thoughtful stewards of the public’s high voltage electric grid.”
Among its rationale, the credit ratings agency noted in its review that the ISO has a straightforward business cost structure and its operating reserve is fully funded. Also weighing positively on S&P’s rating increase is that the ISO plays an essential and unique role in operating the grid, which, the rating agency says, it “has performed well and consistently over many years.”
California ISO Media Hotline | 888.516.6397 250 Outcropping Way | Folsom, California 95630 | |
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The California ISO provides open and non-discriminatory access to
one of the largest power grids in the world. The vast network of
high-voltage transmission power lines is supported by a competitive energy market and comprehensive grid planning. Partnering with about a hundred clients, the nonprofit public benefit corporation is dedicated to the continual development and reliable operation of a modern grid that operates for the benefit of consumers. Recognizing the importance of the global climate challenge, the ISO is at the forefront of integrating renewable power and advanced technologies that will help meet a sustainable energy future efficiently and cleanly. |
Contacts:
Oscar Hidalgo, 888-516-6397
ohidalgo@caiso.com
Steven
Greenlee, 888-516-6397
sgreenlee@caiso.com
or
Media
Hotline, 888-516-6397
