FOR IMMEDIATE RELEASE
AMP Earns Credit Rating Upgrade from S&P Ratings
ALAMEDA, CA – On March 7, Alameda Municipal Power (AMP) earned a credit rating upgrade from Standard and Poor’s (S&P) Global Ratings based on the utility’s strong financial performance.
"While investor-owned utilities such as PG&E have recently seen credit downgrades, AMP has earned a credit rating upgrade,” AMP General Manager Nicolas Procos said. “Not only does this upgrade speak to the hard work and dedication of our staff and the stewardship of the city of Alameda’s Public Utilities Board, it also is a strong endorsement to the community-owned business model for electric utilities.”
The upgrade moves AMP’s S&P rating from A+ to AA-. S&P noted in a statement that AMP has a stable financial outlook with strong liquidity.
Alameda Municipal Power (AMP) is a department of the city of Alameda that has served residents and businesses for 132 years. AMP provides power to more than 34,000 customers at rates that average 17 percent below neighboring communities.
Contact: Kathleen Haley
Alameda Municipal Power