Moody’s Ratings has upgraded California community choice aggregator Silicon Valley Clean Energy to an A3 investment-grade credit rating.
“The upgrade reflects the agency’s improved financial liquidity profile, strong and resilient service territory, and the strength of the California Community Choice Aggregation model,” the CCA said.
“This upgraded rating is an important indicator that the SVCE financials are strong and stable,” said George Tyson, SVCE Board Chair and Town of Los Altos Hills Councilmember. “We remain committed to reinvesting in our communities and providing our customers with clean power at competitive rates. This rating helps us to continue doing this work successfully for the benefit of the people and businesses we serve.”
Moody’s provides an independent assessment of SVCE’s financial strength over the long term and acknowledges its economic stability and diverse renewable energy portfolio. The rating upgrade highlights SVCE’s long-term contracts for clean power projects and community support of the agency’s clean energy value proposition.
SVCE also has an ‘A’ issuer credit rating from S&P Global Ratings.
Moody’s full press release can be found here.
