MEAG Power

Issuer
Overview
Notifications

MEAG Power

Issuer Type: Power/Gas

Bond Ratings

1 of 8

Project One Senior Lien

Moody's
A1
S&P
A
Fitch
A-

Project One Subordinated Lien

Moody's
A2
S&P
A-
Fitch
BBB+

General Resolution Projects Senior Lien

Moody's
A1
S&P
A
Fitch
A-

General Resolution Projects Subordinated Lien

Moody's
A2
S&P
A-
Fitch
BBB+

Combined Cycle Project

Moody's
A1
S&P
A-
Fitch
BBB+

Vogtle Units 3&4 Project M

Moody's
A2
S&P
A
Fitch
BBB+

Vogtle Units 3&4 Project J

Moody's
Baa1
S&P
A
Fitch
BBB+

Vogtle Units 3&4 Project P

Moody's
Baa2
S&P
BBB+
Fitch
BBB+

Welcome to Our Investor Relations Site

Edward Easterlin

On behalf of MEAG Power, I would like to welcome you to our investor relations website. We appreciate your interest and investments in MEAG Power bonds. They allow us to make critical investments in public infrastructure throughout our service area.

I hope you find this website useful as you seek to better understand the credit fundamentals of MEAG Power. Please don't hesitate to contact our team with any questions. Thanks again for your interest in our bond program.

Edward E. Easterlin, Senior Vice President and Chief Financial Officer

News & Highlights

June 25, 2021

News
Vogtle Unit 3 reaches normal operating pressure and temperature during Hot Functional Testing

The following is a Georgia Power news release:


Vogtle Unit 3 plant systems have successfully reached normal operating pressure and temperature during hot functional testing. Over the next several weeks, plant systems will continue to be tested at normal operating pressure and temperature.

Hot functional testing started on April 25 and marks the last series of major tests for the new nuclear unit ahead of fuel load. The testing represents a significant step towards operations and providing customers with a reliable, carbon-free energy source for the next 60 to 80 years.

Hot functional testing is conducted to verify the successful operation of reactor components and systems together and confirm the reactor is ready for fuel load. As part of the testing, the site team is currently running Unit 3 plant systems at normal operating pressure and temperature without nuclear fuel.

For more information:

Read Article

June 21, 2021

News
Moody's assigns A2 to Municipal Electric Authority of Georgia's Plant Vogtle Units 3&4 Project M Bonds, Series 2021A; outlook stable

The following is a Moody's investor service news release:


New York, June 21, 2021 -- Moody's Investors Service has assigned an A2 rating to the Municipal Electric Authority of Georgia's (MEAG Power) planned issuance of approximately $70 million of Plant Vogtle Units 3&4 Project M Bonds, Series 2021A. The bonds are expected to be issued in July 2021, but the actual amount of issuance could change subject to market conditions. The Series 2021A bonds will rank pari passu with about $1.43 billion of MEAG Power's other Project M revenue bonds which are also rated A2 and $687 million of DOE Guaranteed Loans outstanding at May 31, 2021. The rating outlook is stable.

For more information:

Read Article

June 21, 2021

News
Moody's assigns Baa1 to Municipal Electric Authority of Georgia's Plant Vogtle Units 3&4 Project J Bonds, Series 2021A; outlook positive

The following is a Moody's investor service news release:


New York, June 21, 2021 -- Moody's Investors Service has assigned a Baa1 rating to the Municipal Electric Authority of Georgia's (MEAG Power) planned issuance of approximately $135 million of Plant Vogtle Units 3&4 Project J Bonds, Series 2021A. The bonds are expected to be issued in July 2021, but the actual amount of issuance could change subject to market conditions. The Series 2021A bonds will rank pari passu with about $1.95 billion of MEAG Power's other Project J revenue bonds which are also rated Baa1 and about $672 million of DOE Guaranteed Loans outstanding at May 31, 2021. The outlook is positive.

For more information:

Read Article