S&P: American Electric unaffected

Standard & Poor's said the ratings and outlook of American Electric Power Co. Inc. (BBB/stable/A-2) are not currently affected by the Supreme Court of Arkansas's ruling regarding the company's construction of the 600 MW Turk plant. The court ruling reversed and remanded the Arkansas Public Service Commission's grant of the Certificate of Environmental Compatibility and Public Need for construction of the Turk plant.

Subsidiary Southwestern Electric Power Co. (BBB/stable) would own 73% of the plant, and 88 MW would be allocated to the Arkansas jurisdiction.

S&P said ratings or outlooks, however, could be affected if the utility is unable to recover the Arkansas portion of the Turk plant that would be placed into rate base.

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