S&P upgrades PPL

Standard & Poor's said it raised the corporate credit ratings on PPL Corp. and PPL Energy Supply LLC to BBB+ from BBB.

At the same time, the agency said it removed the ratings from Creditwatch with positive implications, where it put them on April 28, following the acquisition announcement.

The outlooks are stable.

In addition, the agency said it affirmed the BBB+ ratings on Louisville Gas & Electric Co. and Kentucky Utilities Co.

The upgrade reflects its opinion of an improved credit profile of the consolidated company following the acquisition closing, S&P noted.

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