S&P gives A to Oglethorpe Power, Ga., bonds

Standard & Poor's said it assigned an A rating to Georgia-based Oglethorpe Power Corp.'s $255 million of series 2008 bonds due 2043, which the company expects to issue in mid-May.

The outlook is stable.

At the same time, S&P said it affirmed the A rating on Oglethorpe's other long-term debt and the A-1 rating on the company's $450 million commercial paper program.

S&P also said it affirmed the A underlying rating on Georgia Development Authority's $133.55 million of series 2006 pollution control revenue bonds (Oglethorpe Power Corp. projects) issued by Burke County and Monroe County and $181.89 million of series 2007 pollution control revenue bonds (Oglethorpe Power Corp. projects) issued by Burke County, Monroe County and Appling County.

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