Fitch: Allegheny Energy view stable

Fitch Ratings said it affirmed Allegheny Energy, Inc.'s long-term issuer default rating at BBB- and its senior revolving credit facility at BBB-, and revised its outlook to stable from positive.

The change reflects the revision of FirstEnergy Corp.'s (BBB issuer default rating) outlook to negative from stable, according to the agency.

These actions incorporate a merchant energy price environment that has deteriorated since the announcement of the FirstEnergy merger with Allegheny, according to the agency.

Concerns include a somewhat challenging state regulatory environment and a generation base that is overwhelmingly dependent on coal, the agency said.

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