Moody’s, a national credit rating agency, recently affirmed the Illinois Municipal Electric Agency’s long term debt as an “A1 Rating with a Stable Outlook.”
Moody’s is one of the two ratings firms that will review the overall credit quality of the current IMEA bonds, as well as the rating for the 2025A bond refinancing that IMEA staff is pursuing in the coming weeks.
Moody’s commented on its expectation that IMEA will continue its long track record of solid financial metrics as a key factor supporting IMEA’s credit quality. Moody’s also recognized the benefits of IMEA's accelerated debt amortization profile relative to our peers, which hastens debt repayment, IMEA noted.
The credit rating agency added that IMEA’s transition to a more diverse power supply is being accomplished while still providing members with economical and reliable power.
"The fact that IMEA has continued to maintain exemplary credit ratings from the top credit rating agencies speaks to the sound decisions made by the Board as advised by IMEA staff," IMEA said.
The IMEA Board is comprised by a representative of each of the 32 member municipalities. They make resource decisions based on resource and energy needs, load forecasts, capacity requirements, and environmental considerations in open and public meetings.
IMEA is a not-for-profit agency with a proven record of providing low-cost, reliable and sustainable energy to 32 of the 42 municipal electric systems all across Illinois.
