The upgrade is based on several factors, including S&P’s opinion of Asante’s strong operating performance due to good volume growth and increasing balance sheet metrics.
“Although unlikely to occur, we could raise the rating over the two-year outlook period if the financial profile were to continue to strengthen with financial performance and balance sheet metrics consistently exceeding the metrics of ‘AA-‘ medians,” said S&P credit analyst Margaret McNamara. “An expansion of the service area, resulting in a larger primary service area and population base, is another factor we believe is unlikely to occur over the outlook period, albeit one that we would view positively.”
The system outlook is stable.
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