Reiko A. Kerr, Senior Vice President, Finance and Administration, and Chief Financial Officer
MEAG Power
MEAG Power
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Moody's Investors Service ("Moody's") has upgraded Municipal Electric Authority of Georgia's Plant Vogtle Units 3&4 Project J $2.0 billion outstanding senior revenue bonds' rating to Baa2 from Baa3. Concurrent with the upgrade, Moody's placed the ratings on review for further upgrade.
Today's rating action was prompted by the announced settlement agreement on July 30th among Municipal Electric Authority of Georgia (MEAG Power), JEA, FL - Electric Enterprise (JEA: A2 Positive), and the City of Jacksonville that is intended to resolve all disputed issues relating to Units 3 and 4 of the Alvin W. Vogtle Electric Generating Plant ("Plant Vogtle"), and the Amended & Restated Power Purchase Agreement dated as of December 31, 2014 (the Project J PPA).
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