Fitch lifts Black Hills

Fitch Ratings said it has upgraded the issuer default rating of Black Hills Corp. to BBB from BBB- and affirmed the issuer default rating of its lead subsidiary, Black Hills Power, Inc., at BBB.

The outlook for both entities is revised to positive from stable.

In addition, Fitch said it has affirmed the short-term issuer default rating of the two at F3.

The upgrade of Black Hills' ratings reflects considerable progress in management's strategic plan, which has downsized the non-regulated business segment while redeploying capital into regulated or similar investments, the agency noted.

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