KBRA Releases Report Affirming Corn Belt Power Cooperative (IA) Obligor Rating of A with Stable Outlook
5 Sep 2023 | New York
On August 30, 2023 KBRA affirmed the Obligor rating of A with a Stable Outlook for Corn Belt Power Cooperative, IA (CBPC). The rating reflects CBPC’s strong, all requirements wholesale power supply contracts with its members, and its all requirement power purchase contract with Basin Electric Power Cooperative, (ND) (“Basin”). Both the power supply and power purchase contracts extend to December 31, 2075. Offsetting the aforementioned strengths is the dependency of both CBPC and Basin on coal-fired generation, which exposes both entities to regulatory and market risk, and the small number of ultimate customers served, with a concentration in ethanol industry load.
CBPC is a member-owned electric generation and transmission cooperative that supplies wholesale power to nine electric distribution cooperatives and one municipal association. CBPC’s service area spans across 41 north central Iowa counties. The service territory includes approximately 39,300 rural residential, farm, commercial, and industrial customers.
To access rating and relevant documents, click here.
Click here to view the report.