The outlook revision is based on a number of factors, including Moody’s Investors Service’s expectation that Skagit will maintain modest operating performance in 2017.
Moody’s also assigned a “Baa2” rating to Skagit’s $61.1 million of series 2016 bonds and affirmed the “Baa2” rating on $100 million of outstanding revenue bond debt.
The rating assignment and affirmation reflect Skagit’s strong market share in its primary service area and the rapid growth it has achieved over the past several years.
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