Moody’s Investors Service said it has downgraded the Bonneville Power Administration’s issuer and related ratings to Aa1 from Aaa.

The BPA-related ratings include Energy Northwest Project 1, Energy Northwest Project 3, the Energy Northwest Columbia Generating Station, the Conservation and Renewable Energy System Project, the Cowlitz Falls Hydroelectric Project, the McNary Dam Fishway Hydroelectric Project, the Northwest Infrastructure Financing Corp. Transmission Facilities Lease, and conservation system project revenue bonds. The outlooks are stable.

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