Fitch rates Consolidated Edison debt BBB+

Fitch Ratings said it assigned a BBB+ rating to Consolidated Edison, Inc.'s (BBB+, stable) new $500 million issue of senior unsecured debentures due in 2021.

Net proceeds will be used for general corporate purposes, including repayment of outstanding short-term debt, and to subsequently fund the purchase of Consolidated Edison’s 50% ownership interest in the midstream joint venture (JV) with Crestwood Equity Partners LP with available cash and proceeds from the issuance of additional short-term debt.

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