Fitch Assigns Initial 'A' Rating

Fitch Ratings has assigned an initial 'A' rating to Utah Associated Municipal Power Systems' (UAMPS, or the System) approximately $72.1 million of Payson Power Project refunding revenue bonds, series 2012, to price via negotiation on or about March 14, 2012. (The Payson Project consists of a combined cycle, natural gas-fired, electric generating facility with a nominal generating capacity of 140 MW located in Payson City, Utah.) Proceeds of the bonds will be used to advance refund the System's outstanding 2003 series A and 2007 project revenue bonds for approximately a 10.6% savings of the refunded par. The Rating Outlook is Stable. Wall Street Journal-Market Watch