Fitch lifts Public Service Enterprise

Fitch Ratings said it upgraded the issuer default rating and senior unsecured debt ratings of Public Service Enterprise Group Inc. and PSEG Power LLC to BBB+ from BBB.

The outlook is now stable.

Fitch said it has also affirmed the ratings of Public Service Electric and Gas Co. and PSEG Energy Holdings LLC, adding that the outlook for latter is changed to stable from negative.

Fitch added that the PSEG rating upgrade reflects the financial strength and strong cash flow of its two core subsidiaries and the moderate and declining level of parent debt.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.