Fitch Ratings – New York – 21 Aug 2026: Fitch Ratings has assigned a ‘A-’ rating to approximately $150 million Power Project Revenue Refunding Bonds Series 2026A issued by the Northern Illinois Municipal Power Agency (NIMPA) and affirmed the agency’s Issuer Default Rating (IDR) and parity obligations at ‘A-’.
The bonds are expected to price the week of August 31 via negotiated sale.
The rating reflects NIMPA’s strong purchaser credit quality (PCQ) assessment. The assessment is based on the members’ rate flexibility, mixed service area characteristics and adequate financial profiles that incorporate each members’ shares of NIMPA’s total debt outstanding. Unconditional take-or-pay power sales agreements and NIMPA’s independent legal authority to raise electric rates support NIMPA’s strong revenue defensibility.