Brighton, CO – Fitch Ratings (Fitch), an international credit rating firm, recently reaffirmed United Power’s Issuer Default and 2024 First Mortgage Notes ratings each as ‘A,’ with a stable outlook. Fitch assesses the credit standing of businesses, communicating the credit worthiness and financial strength of the company to lenders.

United Power sought its first rating in March 2024 ahead of financing its departure from a long-term, all-requirements contract with regional power cooperative Tri-State Generation and Transmission. This contract termination provided United Power greater ability to integrate new energy resources and control a variety of expenses necessary to support the management and procurement of its energy portfolio.

“This rating review affirms the strength and solvency United Power has achieved and maintained in its first full year of power supply independence,” said Mark A. Gabriel, President and CEO of United Power. “After a dramatic shift in the business model, maintaining our credit rating reflects United Power's post-exit stability. The cooperative has greater control of its own future, resulting in greater flexibility and control over procuring and providing power for our members.”

Fitch closely evaluated United Power’s past financial performance and weighed the growth opportunities in the cooperative’s territory to reach its rating. United Power’s ‘A’ rating indicates the cooperative is at a low default risk, and its capacity for repayment of financial commitments is considered strong.

This rating further reflects United Power's very strong revenue defensibility assessment and strong operating risk profile.

You can find the press release from Fitch here.