News

Grand River Dam Authority News Release

Oct 21, 2019

A+ and stable…
GRDA credit rating affirmed by Fitch

The Grand River Dam Authority’s “continued strong financial performance and its very low operating costs” were among the key reasons that led Fitch Ratings to affirms GRDA’s A+ stable rating on Monday, October 14.

Additionally, the rating agency noted that GRDA’s “very low rate anchors its competitive position and provides customers with an economic incentive to continue purchasing from the [A]uthority.” Fitch also noted GRDA’s diverse electric generation portfolio and involvement in the Southwest Power Pool as key reasons for its ability to meet customer energy demands in the years ahead.

“We were very pleased to receive this rating affirmation from Fitch,” said GRDA President/Chief Executive Officer Dan Sullivan. “For GRDA, it is a reflection of all the efforts of our board, management and staff in recent years to keep efficiency as a primary goal. It also reflects the strong and beneficial partnerships we have with our customers.”

GRDA currently maintains the highest credit ratings in its history from the “big three” credit rating agencies: Fitch, Moody’s Investor Service and Standard & Poor’s.

Headquartered in Vinita, GRDA is Oklahoma’s state-owned electric utility; fully funded by revenues from electric and water sales instead of taxes. Each day, GRDA strives to be an “Oklahoma agency of excellence” by focusing on the 5 E’s: electricity, economic development, environmental stewardship, employees and efficiency.

Contact: Justin Alberty
Vice President of Corporate Communications
(918) 824 7812
[email protected]