Moody's lifts Idacorp, Idaho Power

Moody's Investors Service said it upgraded the ratings of Idacorp Inc. (including its long-term issuer rating to Baa1 from Baa2) and its operating subsidiary Idaho Power Co. (including its long-term issuer rating to A3 from Baa1).

The outlooks are stable.

"The rating upgrades for Idacorp and Idaho Power primarily reflect the strong regulatory environment in Idaho, where formulaic or forward looking recovery mechanisms, rate riders or other single-issue special purpose trackers exist," Moody's assistant vice president Ryan Wobbrock said in a news release.

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