Moodys Investors Service - ALLETE Inc. (ALE) ALLETE, Inc.: Update to credit analysis

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Moody's Investors Service

EUR 237.83 For Business Accounts Only

ALLETE, Inc.: Update to credit analysis

Our credit view of this issuer reflects its trend of constructive regulatory outcomes leading to strong cash flow recovery, constrained by its large capital expenditures plan.

03/07/2024 1 EN

Underlying

ALLETE Inc.

Allete is an energy company. The company's Regulated Operations includes its regulated utilities, Minnesota Power and Superior Water, Light and Power Company, as well as its investment in American Transmission Company LLC, a regulated utility that owns and maintains electric transmission assets in parts of Wisconsin, Michigan, Minnesota and Illinois. ALLETE Clean Energy focuses on developing, acquiring, and operating clean and renewable energy projects. United States Water Services provides integrated water management for industry by combining chemical, equipment, engineering and service for customized solutions to reduce water and energy usage, and improve efficiency.

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US0185223007 New York Stock Exchange United States

Provider

Moody's Investors Service

Moody's Investors Service is a leading provider of credit ratings, research, and risk analysis. Moody's commitment and expertise contributes to transparent and integrated financial markets, protecting the integrity of credit. Our ratings and analysis track debt covering more than:

130 countries
11,000 corporate issuers
21,000 public finance issuers
76,000 structured finance obligations

Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Such independent credit ratings and research also contribute to efficiencies in fixed-income markets and other obligations, such as insurance policies and derivative transactions, by providing credible and independent assessments of credit risk.

Moody’s default studies validate our predictive ratings. Our published research and investor briefings draw thousands of attendees each year and keep investors current with the rationale underlying our credit opinions.

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Other Reports on these Companies

BusinessWire

ALLETE, Inc. Reports 2024 Earnings

DULUTH, Minn.--(BUSINESS WIRE)-- ALLETE, Inc. (NYSE: ALE) today reported 2024 earnings of $3.10 per share on net income of $179.3 million and operating revenue of $1.5 billion. Reported results from 2023 were $4.30 per share on net income of $247.1 million and operating revenue of $1.9 billion. Results for 2024 reflect approximately 39 cents per share of transaction expenses related to the merger agreement entered into May 5, 2024, with Canada Pension Plan Investment Board and Global Infrastructure Partners. Earnings in 2024 were positively impacted by the implementation of interim rates on Ja...

February 13, 2025 February 13, 2025 1 EN

BusinessWire

ALLETE Board of Directors Raises Quarterly Common Stock Dividend

DULUTH, Minn.--(BUSINESS WIRE)-- ALLETE, Inc. (NYSE:ALE) today announced that its Board of Directors has increased the quarterly dividend on the company’s common stock to $0.73 per share, a 3.5 percent increase. “This dividend increase reflects the ALLETE Board of Directors’ confidence in our growth outlook for ALLETE,” said ALLETE Chair, President and CEO Bethany Owen. “We are pleased to deliver another dividend increase to our shareholders – adding to our track record of more than 75 consecutive years of dividends paid.” On an annual basis the increased dividend is equivalent to $2.92 pe...

January 30, 2025 January 30, 2025 1 EN

BusinessWire

ALLETE Senior Vice President & Chief Financial Officer Steven W. Morris to Retire Mid-Year as Part of a Planned Transition

DULUTH, Minn.--(BUSINESS WIRE)-- ALLETE, Inc. (NYSE: ALE) announced today that Chief Financial Officer Steven W. Morris will retire later this year after a distinguished nearly 25-year career with the company. In the interim and as part of an orderly succession plan, Morris, 63, will remain with the company until July. Morris joined the Duluth-based company in 2001 and was promoted to Senior Vice President and Chief Financial Officer in Feb. 2022 after serving in numerous key strategic roles throughout his tenure. “Steve has been an integral member of the ALLETE team during his long career...

January 24, 2025 January 24, 2025 1 EN

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ALLETE, Inc.: Update to credit analysis

ALLETE, Inc. Reports 2024 Earnings

ALLETE Board of Directors Raises Quarterly Common Stock Dividend

ALLETE Senior Vice President & Chief Financial Officer Steven W. Morris to Retire Mid-Year as Part of a Planned Transition

City of Winchester, VA: Update to credit metrics

Governments of Korea and Taiwan, China: Proposed US tariffs would pressure Korea’s auto sector and Taiwan, China's chip dominance

Hyundai Capital Services, Inc.: Update to credit analysis

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