- About
- 2021.02.17 JEA Announces New Leadership Team
- 2021.03.11 JEA Receives First Place Safety Award from Florida Municipal Electric Association
- 2021.06.15 JEA Names Theodore B. Phillips Chief Financial Officer
- 2021.07.13 JEA Announces New COO and VP of Financial Services
- 2021.08.17 JEA Builds Out Leadership Team with Hiring of Chief External Affairs Officer
- 2021.09.15 JEA Names New Chief Information Officer, VP of Technical Services
- 2021.09.30 Ricky Erixton, JEA Vice President of Electric Systems, Named to SERC Reliability Board of Directors
- 2021.09.30 Ricardo “Rick” Morales III Appointed to JEA Board of Directors
- 2021.11.03 JEA Receives Statewide Recognition for Programs that Build Community
- 2022.01.06 JEA Names its First Director of Diversity, Equity & Inclusion
- 2022.01.07 JEA Reducing Carbon Emissions with Closure of Plant Scherer Coal-fired Unit
- 2022.01.17 Statement on Holiday Road Sewer Overflow
- 2022.01.27 JEA Names Mark Stultz Vice President, Communications
- 2022.02.11 JEA Honored as Outstanding Utility by Florida Urban Forestry Council
- 2022.04.08 Steven Selders Promoted to JEA Vice President, Application Delivery and Enterprise Architecture
- 2022.04.26 JEA Managing Director & CEO Jay Stowe, Appointed to Electricity Subsector Coordinating Council
- 2022.06.01 JEA Partnering with Customers to be Ready for 2022 Hurricane Season
- 2022.06.08 JEA Announces Next Generation of Customer Experience Delivery
- 2022.06.13 JEA Presents Environmental Stewardship Award to Evoqua Water Technologies
- 2022.07.26 JEA to Suspend Electric, Water Disconnections During Peak of Summer Heat
- 2022.08.27 Precautionary Boil Water Advisory Remains in Effect for Sandalwood Area as JEA Continues Testing
- 2022.08.28 JEA Lifts Boil Water Advisory for Sandalwood Area
- 2022.09.26 JEA Prepares for Hurricane Ian, Response Procedures in Place
- 2022.09.27 JEA Prepared to Respond to Hurricane Ian Impacts
- 2022.09.28 JEA Welcomes Mutual Aid Response to Hurricane Ian
- 2022.09.29 JEA Crews Restoring Power Throughout Jacksonville
- 2022.10.03 JEA Names Pedro Melendez Vice President, Planning, Engineering & Construction
- 2022.10.20 JEA Honors Local Agency Partners for Their Work in the Community
- 2022.11.04 JEA Receives Statewide Recognition for Community Work in Northeast Florida
- 2022.11.08 JEA Prepares for Subtropical Storm Nicole
- 2022.11.11 All Storm Restorations Continue Today; JEA to Lift Limited Emergency Operations
- 2022.12.12 JEA Women's, Men's Teams Win Top Honors at Statewide Water Competition
- 2022.12.20 JEA Offers Tips in Advance of Severe Cold Weather
- 2022.12.24 JEA Offers Tips During Severe Cold Weather
- 2023.01.10 JEA Receives Statewide Recognition for Mutual Aid Work
- 2023.03.06 JEA Receives Statewide Recognition for Safety
- 2023.03.07 New JEA HQ Customer Center to Open April 10
- 2023.04.06 JEA Lineworkers Earn Top Honors at International Lineman’s Rodeo
- 2023.04.25 Community Invited to May 25 Public Forum on Northeast Florida’s Energy Future
- 2023.05.01 JEA Receives Recognition for Commitment to Urban Tree Management
- 2023.05.18 JEA's Long-Range Clean Energy Plan Available to Public
- 2023.05.26 JEA Ready for 2023 Hurricane Season, Offers Tips to Help Customers Prepare
- 2023.06.05 Helen Materazzi Named JEA Vice President, Organizational Effectiveness
- 2023.06.14 JEA Upgrading Water Meters for All Customers
- 2023.06.15 JEA Crews Heading to Tallahassee to Assist with Storm Restoration
- 2023.06.26 JEA Presents Environmental Stewardship Award to 29 Local Companies
- 2023.07.14 JEA Launches Fleet Vehicle Electrification Program
- 2023.08.22 JEA Issues Precautionary Boil Water Advisory for South Philips Highway and Nocatee Area, Encourages All Customers to Conserve
- 2023.08.22 Chief Human Resources Officer, VyStar Credit Union
- 2023.08.23 Precautionary Boil Water Advisory Remains in Effect for South Philips Highway, Nocatee Area, JEA Continues to Encourage All Customers to Conserve
- 2023.08.24 JEA Lifts Precautionary Boil Water Advisory for South Philips Highway, Nocatee Area
- 2023.08.28 JEA Prepares for Tropical Storm Idalia Encourages Customers to Be Ready
- 2023.08.30 JEA Responding to Customers Due to Hurricane Idalia
- 2023.11.15 JEA Receives Top Ranking in 2023 Business Satisfaction Survey by J.D. Power
- 2023.11.07 JEA Receives Statewide Recognition for Programs That Enhance the Community
- 2023.11.20 Juli Crawford Promoted to JEA Vice President, Enterprise Strategy & Planning
- 2023.11.28 JEA and UNF Advance Sustainable Solutions at Lab Opening
- 2024.01.09 Bond Rating Agencies Affirm Strong Financial Status for JEA Water Services
- 2024.01.30 JEA Hosts FMEA Lineman Competition
- 2024.01.31 JEA Honored with Statewide Award for Mutual Aid Assistance
- 2024.02.26 JEA Lineworkers Earn Top Prizes at Florida Lineman Competition
- 2024.04.08 Kim Wheeler Names JEA Vice President Operations Support
- 2024.04.15 JEA Board Names Vickie Cavey Interim Managing Director and CEO
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- 2020.09.29 Moody’s Upgrades JEA’s Bond Ratings for Water-Wastewater and District Energy Systems
Moody’s Upgrades JEA’s Bond Ratings for Water/Wastewater and District Energy Systems
2020-09-29
JACKSONVILLE (Sept. 29, 2020) -- Moody’s Investor Services has upgraded JEA’s water/wastewater and district energy systems senior and subordinated bond ratings and financial outlook in its latest rating action published on Sept. 28, 2020. The new rating action upgrades JEA’s water/wastewater system senior bond ratings to Aa3 from A2 and the district energy (chilled water) system bond rating to A1 from A3.
Higher bond ratings mean lower borrowing costs – and ultimately lower overall costs – for JEA customers. JEA has more than $1.3 billion in debt in the water, wastewater and district energy systems, and these credit rating upgrades will help keep JEA’s borrowing costs low for all of its customers. Ratings are assigned on the basis of extensive analysis by the rating agency, considering factors such as financial strength, economic diversity, management capability, and operating experience.
Moody’s states, “The stable outlook reflects that financial operations will remain stable and that new, permanent management will be implemented in the near term and will promote prudent fiscal management.”
Moody’s also highlights the recent resolution agreement between JEA and the Municipal Electric Authority of Georgia (MEAG) over the Vogtle Generation Plant Power Purchase Agreement, strong debt service, credit strengths, and proper governance as some of the reasons for these upgrades.
“These bond upgrades from Moody’s signal a renewed confidence in JEA’s new board, senior leadership team, and employees,” JEA Interim Managing Director and CEO Paul McElroy said. “We will continue with our efforts to move JEA forward to set a positive financial course for the future of JEA and its customers.”
Moody’s also noted that JEA is not susceptible to immediate material credit risks associated with the coronavirus “given its diverse economy and strong recent revenue collections.”
About JEA
JEA is a not-for-profit, community-owned utility located in Jacksonville, Florida, proudly serving an estimated 478,000 electric, 357,000 water, 279,000 sewer customers and 15,000 reclaimed water customers. JEA is not owned
by investors. It was created by the City of Jacksonville to serve those who live in Jacksonville and in the surrounding communities. The sole purpose of JEA’s business is to ensure the electric, water and sewer demands of its customers are met, both
today and for generations to come with the goal to provide reliable services at the best value to our customers while ensuring our areas’ precious natural resources are protected.
Media Contact
Greg Corcoran
JEA External Communications
media@jea.com
(904) 665-5500
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- corporate
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