The credit profile of Midcontinent Independent System Operator, Inc (MISO) reflects the essential and established role it plays in the electricity markets as the independent, nonprofit grid operator across 15 US states and the Canadian province of Manitoba.

MISO's financial stability has been maintained for many years and is critical to the proper functioning of the electric grid in a large portion of the US. For physical power to be delivered within its control area, the delivery must be scheduled in combination with a trade with the independent system operator (ISO), making MISO the central counterparty to all of the market participants. These market participants, including generators, load serving entities, and intermediaries, rely on the ISO to transmit the power, collect payments from buyers and make payments to sellers.

MISO has a stable source of cash flow. Its revenues are derived from a cost recovery mechanism that adjusts monthly to assure timely recovery of actual costs that it incurs to provide these essential services to the Midcontinent power market. Moreover, under its tariff agreement approved by Federal Energy Regulatory Commission (FERC), MISO can, if necessary, access first-in funds from member payments for market and transmission services to cover its own costs and debt service.