Moody’s Investors Service – one of the nation’s leading credit ratings agencies – issued a news release today changing Mississippi Power’s credit outlook from “under review” to “stable.”
“The stable outlook on Mississippi Power’s ratings reflects the anticipated near-term resolution of most of the cost recovery issues associated with the Kemper plant,” the news release said.
Moody’s cites Southern Company and Mississippi Power absorbing all gasification related costs of the Kemper project as a leading factor in the upgrade.
The credit ratings agency said a “positive rating action” could be considered when the Mississippi Public Service Commission makes a final decision on cost recovery of the combined cycle portion of the project which has been in service for three years. In August, Mississippi Power filed a multi-party settlement agreement with the PSC that would ensure no rate increase for customers.
Mississippi Power, a subsidiary of Southern Company (NYSE: SO), produces safe, reliable and environmentally responsible energy for nearly 187,000 customers in 23 southeast Mississippi counties. Mississippi Power ranked first in the Southeastern Electric Exchange’s 2016 Safety Performance Reports and is consistently recognized as an industry leader in reliability, customer service and safety. Visit our websites at www.mississippipower.com and www.mississippipowernews.com, like us on Facebook, and follow us on Twitter, LinkedIn, Google+ and YouTube.