Fitch Affirms MMPA Bond Rating; Improves Outlook
December 13, 2019
Fitch Ratings announced on December 11 that it was affirming its A+ rating of the bonds of the Minnesota Municipal Power Agency (MMPA). In addition, the rating outlook was improved from stable to positive. In its press release, Fitch noted MMPA’s low financial leverage, consistently low operating cost burden, strong member credit quality, and diverse resource portfolio.
The Minnesota Municipal Power Agency is a joint action agency providing wholesale electric power to its twelve municipal members who in turn supply power to approximately 160,000 Minnesotans. MMPA has a diverse portfolio of renewable and conventional power supply resources. MMPA’s mission is to provide reliable, competitively-priced power to its members and to create value for the Agency and its members.