MASSENA -- One of the financial world's bond rating agencies has affirmed the good rating of the New York Power Authority’s (NYPA) electric revenue bonds.

Fitch Ratings strong credit evaluation of NYPA's bonds is among the highest given to public electric utilities, according to a press release from NYPA.

Fitch affirmed an AA rating for more than $800 million of NYPA long-term bonds and notes, as well as an F1+ rating for NYPA’s commercial paper program.

“Fitch’s affirmation of NYPA’s bond ratings allows us to continue to access the capital markets and finance at low cost some of New York State’s most impactful energy initiatives,” said NYPA Chairman John R. Koelmel.

NYPA is investing in modernized transmission infrastructure, energy efficiency and renewable energy projects, energy storage, and electric vehicle charging infrastructure.

The high credit rating will allow the authority to borrow for those projects at relatively favorable rates.