Moody's raises Ipalco to Baa3

Moody's Investors Service said it upgraded the long-term ratings of Ipalco Enterprises, Inc. (senior secured to Baa3 from Ba1); and Indianapolis Power & Light Co. (issuer rating to Baa1 from Baa2; senior secured to A2 from A3 and preferred stock to Baa3 from Ba1).

The outlooks are stable.

"The upgrades of IPL and Ipalco reflect regulatory provisions in Indiana that are consistent with our view of a generally improving regulatory environment for US electric and gas utilities," Moody's vice president Natividad Martel said in a news release.

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