S&P Global Ratings affirmed its 'A+' rating on Omaha Public Power District (OPPD), Neb.'s separate system revenue bonds. The outlook is stable. The separate system bonds financed construction of the Nebraska City 2 (NC2) project, a 682-megawatt (MW) subcritical coal-fired facility adjacent to OPPD's Nebraska City Station Unit No. 1, south of Nebraska City. OPPD is the sole owner of NC2 and controls its operations and maintenance (O&M). OPPD retains 50% of the project's output. The remaining 50% is under participation agreements that comprise the separate system, with seven public power and municipal utilities in Nebraska, Missouri, and Minnesota. The participants' rights to receive, and their obligations to pay costs for this 50%, are referred to as the separate system;
