Board maintains A+ rating, defers reorganization
Belmont Light maintains A+ rating amid winter cost pressures. General Manager Craig Spinale reported to Chair Andrew Machado, Vice Chair David Beavers, and Member Steve Klionsky that S&P Global sustained the department's A+ credit rating with stable outlook, though the rating agency flagged
Belmont Municipal Light Board · Meeting of April 16, 2026
Belmont Light maintains A+ rating amid winter cost pressures. General Manager Craig Spinale reported to Chair Andrew Machado, Vice Chair David Beavers, and Member Steve Klionsky that S&P Global sustained the department's A+ credit rating with stable outlook, though the rating agency flagged potential downside if liquidity or coverage ratios weaken. Winter power costs were elevated due to cold weather and increased purchasing, prompting monitoring for a possible Power Cost Adjustment later this year.
The board deferred its annual officer reorganization due to one member's absence, while the department draws 65-plus applicants for openings in electrical mechanics and lineworker recruitment.
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Source: the Belmont Municipal Light Board meeting of April 16, 2026, compiled from the official minutes.
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