As the Dow Industrials was surging to new all-time highs, AA was just barely able to surpass its long-term downtrend, line a, in February.

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The IOUs were rated AAA but yielded 100 basis points (that is, a full percentage point) more than comparable maturity AA-rated corporates at the time.

FORBES: Yield Booster

The AA says that the industry's "just in time" delivery business model is leaving it exposed to supply shortages in the future.

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