FOLSOM, CALIF – Standard & Poor’s Rating Services recently raised the California Independent System Operator Corporation (ISO) issuer credit rating and senior secured rating to “A+” from “A” citing a strong and predictable financial performance.
The rating increase can lead to lower cost financing should the ISO issue debt in the future.
“The California ISO management and employees have a strong sense of responsibility to contain costs and conduct our business efficiently and productively,” said Steve Berberich, President and CEO. “I am very pleased that our hard work is recognized by S&P as we continue to be good and thoughtful stewards of the public’s high voltage electric grid.”
Among its rationale, the credit ratings agency noted in its review that the ISO has a straightforward business cost structure and its operating reserve is fully funded. Also weighing positively on S&P’s rating increase is that the ISO plays an essential and unique role in operating the grid, which, the rating agency says, it “has performed well and consistently over many years.”