Fitch changes AES to stable

Fitch Ratings said it affirmed the long-term issuer default ratings of AES Corp. at BB- and revised the outlook to stable from negative.

The agency also affirmed the BB+ issuer default rating of Ipalco Enterprises, Inc., BBB- issuer default rating of Indianapolis Power & Light Co., B+ issuer default rating of DPL, Inc. and BB+ issuer default rating of Dayton Power & Light Co., all with stable outlooks.

Fitch said the revision of AES' outlook reflects its expectations that the credit protection measures will be maintained below the required threshold over the next few years, despite the macroeconomic headwinds. This stability is primarily driven by a higher amount of recourse debt reduction than previously expected.

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