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<br />0020~3 <br /> <br />\ <br /> <br />. <br /> <br />~ ~(6jm5(~ <br /> <br />II DEe 05 1983 <br />, I <br /> <br /> <br />pubfie'~~r~fbrm'aiion <br /> <br />Colorado. Ute <br />Electric Association, Inc. <br /> <br />._....-, .,.~ ~'.::ouw..,."-""~'-'~"'_.<h-d'"__'''~''''''''' C'T,","" ,,',' " <br /> <br />"'n"'" <br />, <br /> <br /> <br />P. O. Box 1149 <br />Montrose, Colorado 81402 <br />13031 249,4501 <br /> <br />For further information: <br />Robert A. Hoving <br />303-249-4501 <br /> <br />December 1, 1983 <br /> <br />MONTROSE--The Colorado-Ute Electric Association announced <br /> <br />today that its credit rating has been significantly upgraded by <br /> <br />one of the nation's foremost bond rating services. <br /> <br />Girts Krumins, president of the wholesale power cooperative, <br /> <br />said that Moody's Investors Service has increased the rating on <br /> <br />two outstanding Colorado-Ute pollution control revenue bond <br /> <br />issues from Baa2 to A2. <br /> <br />"This is tremendous news for our consumers," Krumins said. <br /> <br />"It will result in a substantial reduction in our future financing <br /> <br />costs." <br /> <br />"Our credit rating has been significantly improved and the <br /> <br />bond uprating reflects the confidence in us of the financial <br /> <br />community," he added. <br /> <br />Krumins said Colorado-Ute had asked for review of its bond <br /> <br />rating in preparation for the financing of Craig Station Unit 3, <br /> <br />which is nearing completion of construction. <br /> <br />--more-- <br /> <br /> <br />-~ <br /> <br />