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S&P upgrades Chugach Electric to A

S&P Global Ratings on Dec. 8 upgraded the issuer credit rating of Chugach Electric Association Inc. to "A" from "A-," with a stable outlook.

The rating agency said the upgrade follows the cooperative's strong competitive and financial results, Chugach's transition into a mostly retail utility, declining leverage and positive relationship with the Regulatory Commission of Alaska.

"This announcement reflects our ability to remain financially strong while adapting to a changing economy, and it allows us to continue to provide service to our members at the lowest cost possible," Chugach CEO Lee Thibert said.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.