Moody's assigns PJM Aa3

Moody's Investors Service said it assigned an Aa3 issuer rating to PJM Interconnection, LLC.

The outlook is stable.

"PJM's Aa3 issuer rating reflects the transmission grid operator's low business risk profile, the uniqueness of its rate tariff, the creditworthiness of its members and the vital function it plays within the PJM service territory," said Moody's vice president, Scott Solomon.

The agency added that PJM's primary roles are to coordinate the movement of wholesale electricity within its multi-state service territory and to provide and manage a competitive auction and real-time spot market for buyers and sellers of wholesale electricity.

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