...Chelan County Public Utility District No. 1's (WA) 'AA+' rating reflects its very strong financial profile, given its 'a' revenue defensibility assessment and 'aa' operating risk assessment. The 'aa' financial profile assessment is very strong with high coverage and liquidity levels, as well as a very low leverage of less than 2.0x, calculated by Fitch Ratings as net adjusted debt/adjusted funds available for debt service. The financial profile is expected to remain very strong with continued debt amortization and full cash funding of substantial capital expenditures (capex) over Fitch's five-year forward look....
