In a recent op-ed Brandon Presley argued that utilities were racking into much cash because of low borrow costs. Here it is in case you missed it. Now there is this:
Lower credit ratings may be causing Mississippi Power Co. to pay more to borrow money.
Moody’s Investors Service became the second credit rating agency to downgrade Mississippi Power last week, days before the unit of Atlanta-based Southern Co. returned to the bond market to borrow $200 million. The company borrows money frequently as a normal part of its business. Some proceeds will go toward the $2.8 billion power plant the company is building in Kemper County.
Aug. 15, 2012