S&P gives A-1 to Arkansas Electric CP program

Standard & Poor's said it assigned an A-1 rating to Arkansas Electric Cooperative Corp.'s $210.5 million commercial paper program.

Proceeds will provide initial funding for the corporation's 70 megawatt share of the coal-fired Turk generating plant, which is likely to begin operations in 2012.

S&P affirmed its AA- rating on the corporation's $442.4 million outstanding debt. The outlook is negative.

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