Standard & Poor's Ratings Services said it raised its rating on Columbia, Mo.'s water and electric system revenue bonds one notch to AA from AA-minus.
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It also assigned a AA rating to the system's series 2014A revenue refunding bonds. The outlook is stable.
"The upgrade is based on our opinion that the system will be able to sustain its solid debt service coverage and strong working capital as it has updated its power supply portfolio in recent years and fully integrated those resources into its rates," said Standard & Poor's credit analyst Theodore Chapman.
The upgrade affects about $135 million in parity revenue bonds. The system does business as Columbia Water & Light.
