Rating Report
JEA (FL) [Electric]
Mon 12 May, 2025 - 12:40 PM ET
JEA's 'AA' bond ratings and 'aa' Standalone Credit Profile reflect its strong financial performance, low leverage, and robust revenue defensibility, with total debt declining to $1.4 billion in 2024 from over $2.5 billion since 2015, and leverage improving to 5.7x in 2024, while future capital spending of $1.9 billion through 2028 is expected to be funded by new debt and internal sources, maintaining the leverage ratio below 6.5x.
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