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Lodi Electric Utility gets upgraded bond rating

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Posted: Saturday, December 11, 2010 12:00 am

For the third time since August 2007, Lodi Electric Utility's debt has received an upgrade in its bond grading from Fitch Rating. Lodi Utility received an A- rating, up from BBB+. Lodi Electric Utility was rated A- from July 1999 to October 2002 before it received a series of downgrades during the state's energy crisis.

The financial industry grades bonds on a letter scale with A ratings at the top and B and C grades lower. Standard & Poor's and Moody's have also recently given the utility an A rating.

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