LAKELAND ELECTRIC RATINGS AFFIRMED
Lakeland, Florida, January 15, 2016 — Fitch Ratings™, Moody’s™, and Standard & Poor's™ Ratings Services have assigned long-term ratings of AA-, Aa3, and AA, respectively, to Lakeland Electric’s 2016 energy system bonds. At the same time, all three rating services also affirmed the same ratings on the utility's existing debt. The outlook for Lakeland Electric is stable.
Lakeland Electric fared well due to many factors, including its competitive rates - which are among the lowest in Florida - and a dependable low-cost power supply provided by the utility’s own gas- and coal-fired power plants.
“We consistently have some of the most competitive electric rates in the state,” said Joel Ivy, General Manager of Lakeland Electric. “Thanks to our strong energy production fleet, like McIntosh 5 and 3, and our ability to diversify how we produce or procure power, we are positioned well for the future and for our customers.”
For more information on the individual rating services reports, please click here or visit our website at www.LakelandElectric.com and click on the Ratings Banner at the top of the home page.
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