The Grand River Dam Authority’s continued strong financial performance and its very low operating costs were among the key reasons that led Fitch Ratings to affirm GRDA’s A+ stable rating on Oct. 14.
Additionally, the rating agency noted that Oklahoma-based GRDA’s “very low rate anchors its competitive position and provides customers with an economic incentive to continue purchasing from the [A]uthority.”
Fitch also noted GRDA’s diverse electric generation portfolio and involvement in the Southwest Power Pool as key reasons for its ability to meet customer energy demands in the years ahead.
“We were very pleased to receive this rating affirmation from Fitch,” said GRDA President and CEO Dan Sullivan. “For GRDA, it is a reflection of all the efforts of our board, management and staff in recent years to keep efficiency as a primary goal. It also reflects the strong and beneficial partnerships we have with our customers.”
GRDA currently maintains the highest credit ratings in its history from the three major credit rating agencies: Fitch, Moody’s Investor Service and Standard & Poor’s.
Headquartered in Vinita, GRDA is Oklahoma’s state-owned electric utility and fully funded by revenues from electric and water sales instead of taxes.