Fitch rates AEP Texas notes BBB+

Fitch Ratings said it assigned BBB+ ratings to AEP Texas Inc.'s offering of series K and series L senior notes.

The agency reviewed AEP Texas’ BBB+ senior unsecured rating on March 9.

AEP Texas will use the proceeds for the repayment of $400 million of 2.4% senior notes due in October, $25 million of 3.27% senior notes due in September, for repayment of advances from affiliates and for general corporate purposes relating to its utility business.

The outlook is stable.

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