Author Archives: Stephanie McCombs

Fitch Upgrades Big Rivers Credit Rating to BBB

Fitch Upgrades Big Rivers Credit Rating to BBB

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August 15, 2022

Fitch Ratings - New York

Fitch Ratings has upgraded the following ratings on Big Rivers Electric Corporation, KY to 'BBB' from 'BBB-

The Rating Outlook is Stable.

ANALYTICAL CONCLUSION

The Issuer Default Rating (IDR) is upgraded to 'BBB' from 'BBB-' reflecting a continued trend of improved financial performance, which has resulted in consistently lower leverage over the past few years. The improved performance is due to several factors including full realization of member rates, increased demand from contracted sales to nonmembers, and greater cash flows from cost recovery of regulatory assets.

Big Rivers' leverage ratio, measured as net adjusted debt to adjusted funds available for debt service (FADS), declined from over 9.0x in 2017 to 7.2x in 2020, and declined further in 2021 due to stronger revenue collections and an increase in non-cash depreciation expenses for the year. Further, Fitch expects a continued trend of strong cash flow and leverage ratios through its FAST stress scenario that support the 'BBB' rating.

Click Here to View the Full Review from Fitch Ratings: https://www.fitchratings.com/research/us-public-finance/fitch-upgrades-big-rivers-electric-corporation-to-bbb-outlook-stable-15-08-2022

Big Rivers Electric Collects Four Governor’s Safety and Health Awards

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Employees honored for stellar workplace safety record Big Rivers Electric Corporation earned four of the 25 Governor’s Safety and Health Awards announced this month. The awards recognize an outstanding commitment to workplace safety. Employees working at four Big Rivers locations logged more than 4 million consecutive hours on the job through Dec. 31, 2021, without… Continue Reading

Big Rivers Implodes Stacks at Coleman Station

Big Rivers Implodes Stacks at Coleman Station

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Big Rivers Electric Corporation imploded the stacks that once served Kenneth C. Coleman Station in Hawesville on March 23, 2022. The 443-megawatt power plant on the Ohio River began generation from its first unit in 1969 and later expanded to three units. Big Rivers idled the coal-fired power station in 2014. After nearly a year… Continue Reading

Public Service Commission Approves Big Rivers’ Plans for New Owensboro Headquarters

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Public Service Commission Approves Big Rivers’ Plans for New Headquarters Official Groundbreaking in Owensboro Scheduled for January 2022 OWENSBORO, Ky. (December 16, 2021) – Big Rivers Electric Corporation will soon hold the official groundbreaking for a new Headquarters facility in downtown Owensboro. In an order signed on December 7, the Kentucky Public Service Commission (KPSC)… Continue Reading

Big Rivers Donates $40,000 to Hancock County Community Organizations

Big Rivers Donates $40,000 to Hancock County Community Organizations

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HANCOCK COUNTY CLARION (June 30, 2021) Earlier this year Big Rivers Electric Corporation started the process to decommission the Coleman power plant outside of Hawesville. The plant contained many valuable items, and the company decided to hold an auction for plant employees and let them purchase the items. To the company’s surprise, the auction raised… Continue Reading

Big Rivers & IBEW 1701 Donate $25,000 to Two Owensboro Non-Profits

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Daniel Pitino Shelter and Hayden Home for Girls to Receive $12,500 Each OWENSBORO – Big Rivers Electric Corporation and IBEW Local 1701 partnered in May 2021 to donate a total of $25,000 to two Owensboro non-profit agencies. Owensboro Mayor Tom Watson joined the check presentations held at each location on the morning of May 4th,… Continue Reading

Big Rivers Legislative Director Named to National Coal Council

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Big Rivers Director Legislative Affairs and Government Relations Sharla Wells will join the Federal Advisory Committee, which serves the U.S. Secretary of Energy. Wells was appointed to the National Coal Council in January 2021 and will serve a term that extends until July 1, 2022. The National Coal Council is one of three Federal Advisory… Continue Reading

Daughter of Big Rivers IT Architect Works on Team Behind First Lady’s Inauguration Look

Daughter of Big Rivers IT Architect Works on Team Behind First Lady’s Inauguration Look

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On the chilly morning of January 20, soon-to-be First Lady Jill Biden walked out onto the steps of the US Capitol building with the eyes of the world watching. Every aspect of this Inauguration ceremony had been carefully organized. But even after weeks of planning, Biden’s choice of blue, beaded Markarian dress and sparkly tweed coat still took one Henderson native by surprise.… Continue Reading