Fitch lifts Georgia electric authority, rates bonds F1+

Fitch Ratings said it upgraded the Municipal Electric Authority of Georgia's $66.95 million variable-rate combustion turbine project revenue bonds, series 2002B, to AA and assigned an F1+ short-term rating.

The rating action is in connection with an interest rate conversion of the bonds from an auction-rate mode to a weekly-rate mode.

The new rating is based on the rating of a direct-pay letter of credit supporting the bonds and the application of Fitch's joint probability methodology.

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