NEW YORK--(BUSINESS WIRE)--Fitch Ratings has affirmed the 'A' rating on Golden Spread Electric Cooperative's (Golden Spread or GSEC) $36.38 million 5.75% senior secured notes, series 2005. The Rating Outlook is Stable. SECURITY Senior secured notes are first mortgage obligations of Golden Spread. The notes are secured under a trust indenture which has a first lien on tangible and intangible assets. KEY RATING DRIVERS NEW OPERATING MODEL: Golden Spread's operating model has evolved from a strate
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