News Column

Fitch Releases 2014 U.S. Public Power Peer Study and Comparative Analysis Tool

June 13, 2014



NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has released the 2014 edition of its U.S. Public PowerPeer Study.

The study contains operating and financial data for 130 Fitch-rated public power issuers including retail and wholesale utility systems, and rural electric cooperatives. It provides updated statistics and metrics for utilities with fiscal years ending Dec. 31, 2013, as well as revised medians to reflect updated statistics and rating actions taken through June 1, 2014.

Fitch has also released its latest version of the Peer Study Addendum, an interactive Excel based analytical tool for comparing a utility's key financial metrics to median calculations on a notch-specific rating basis for comparable entities rated within the same rating category (i.e. 'AA', 'A', 'BBB') and against the entire portfolio of Fitch-rated issuers.

This year's edition of the Addendum features an updated dynamic charting application that allows the user to generate a quick graphic representation of how a utility's selected financial metrics compare to the respective medians. The Addendum also features the updated Public Power Dashboard, which provides a system overview, including key rating, operational, and financial information for each of the public power and cooperative issuers included in the peer study, and the ability to compare trends in operational and financial data between two systems, and financial metrics against rating category medians.

The Addendum is available on the company's website, at 'www.fitchratings.com'.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research: U.S. Public Power Peer Study -- June 2014

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=749789

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.



Fitch Ratings

Stacey Mawson

Associate Director

+1-212-908-0678

Fitch Ratings, Inc.

33 Whitehall Street

New York, NY 10004

or

Dennis Pidherny

Managing Director

+1-212-908-0738

or

Media Relations:

Elizabeth Fogerty, +1-212-908-0526 (New York)

elizabeth.fogerty@fitchratings.com


Source: Fitch Ratings


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