Ratings Changes: Avista, Idacorp, Wolverine

TSC Ratings provides exclusive stock, ETF and mutual fund ratings and commentary based on award-winning, proprietary tools. Its "safety first" approach to investing aims to reduce risk while seeking solid outperformance on a total return basis.

TheStreet.com Ratings' model upgraded Avista(AVA Quote) to "buy." The company generates and distributes energy through its three subsidiaries: Avista Utilities, Energy Marketing and Resource Management and Advantage IQ.

The numbers: Fiscal first-quarter revenue fell 1.7% to $488 million as net income increased 23% to $31 million and earnings per share jumped 21% to 57 cents. Operating margin improved 161 basis points to 14% and net margin jumped 128 basis points to 6.4%. The company has a weak liquidity position, as indicated by just $36 million of reserves and a low quick ratio of 0.4. However, the cash balance has more than doubled since the year-earlier quarter. A debt-to-equity ratio of 1.14 is higher than ideal. ...