S & P CONFIRMS A+ STABLE RATING
I’m happy to tell you Standard & Poor’s (S & P), the world’s foremost source of credit ratings, investment research and risk and evaluation data, recently confirmed that GVEC has maintained the “A+ stable” rating received at this time last year. In the January, 2007, issue of the GVEC Review, the cover story announced that GVEC received an “A+” rating from S & P. For 2008, we’ve maintained this high rating, once more affirming our strong financial management and our position as one of the highest-rated distribution cooperatives in the nation. This strong rating translates into benefits for you, our member-owners, as it enables GVEC to borrow money for capital projects at better interest rates than others in the industry. Since the “A+ stable” rating was established, leading lending agencies began to compete for GVEC’s business, offering lower interest rates and better financing packages. S & P confirmed the “A+” rating after reviewing GVEC’s debt service coverage, liquid assets, equity position and overall management of financial resources. Considering our history and our affiliates’ successes, (GVEC. net celebrates 10 years of business this year and GVEC Home Services celebrates its 10th anniversary of home appliance sales as well 40 years in business), GVEC’s Board of Directors and staff have done an excellent job in stringently managing the Cooperative’s finances in order to uphold our fiduciary responsibility and protect the assets of the membership. The confirmation of the rating also endorses GVEC as a strong business partner for power marketers that are looking to sell equity positions in new generating plants or are looking to enter into long-term purchased power agreements with a financially strong utility. This offers more advantages for us when we deal with wholesale power suppliers. We are proud of this rating and all it offers GVEC and our membership, and we will continue to operate your utility in a manner that will maintain financial strength and serve us well into the future.

QUESTIONS OR COMMENTS
Please contact me anytime you have questions, comments or suggestions. Email me at info@gvec.org, call me at 1-800-223-GVEC (4832) or write to me at P. O. Box 118, Gonzales, Texas, 78629. I look forward to hearing your thoughts.

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The information provided on this website is for informational purposes only,
and is subject to change. The official documentation can be obtained by
contacting the GVEC headquarters office at 800-223-4832.