Fitch affirms Buckeye Power’s ‘A’ rating

Fitch Ratings has released its annual report on Buckeye Power’s revenue bonds and affirmed Buckeye’s ‘A’ rating.

The outstanding senior secured bonds affirmed include: $17.9 million Ohio Air Quality Development Authority (Buckeye Power, Inc. Project), series 2003; $11.8 million Ohio Water Development Authority, series 2004; and $73 million Ohio Air Quality Development Authority, series 2010.

Some of the factors supporting Buckeye’s creditworthiness were stabilizing financials, long-term wholesale contracts, reasonable rates and that Buckeye is well positioned environmentally, the report said.