S&P Global Ratings has affirmed its "A" issuer credit rating and revised its outlook to positive from stable on Silicon Valley Clean Energy.
Credit ratings enable SVCE to negotiate energy supply contracts at lower costs and preserve financial liquidity, the California community choice aggregator noted.
The revised positive outlook reflects the CCA's ability to mitigate the operations impact of volatile power markets, SVCE said.
"SVCE achieves this through a diverse and steadily growing customer base, clean energy portfolio, and improved liquidity. The rating also reflects the SVCE efforts to increase its power supply with long-term power purchase agreements for renewable energy," the CCA said.
The initial S&P credit rating was awarded in 2021.
SVCE also has an "A3" investment-grade credit rating from Moody’s Investor Service.
