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MOODYS UPGRADES KEYS CREDIT RATING CITING STABLE OUTLOOK

10/01/2014 ~ Moody’s Investors Services has upgraded Keys Energy Services (KEYS) credit rating to A1, from A2, citing a stable outlook.

The rating upgrade reflects the utility’s strong management of its power supply and distribution system, sound financial metrics and liquidity, the Utility Board’s independent governance and sound rate setting authority, and the strong local economy of Key West and the Florida Keys.

An A1 credit rating is one of the top ratings that a ratings agency can assign to an entity. The rating signifies that the entity has stable financial backing and ample cash reserves with a very low risk of default.

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