Fitch: Idacorp view negative

Fitch Ratings said it affirmed Idacorp, Inc. and its subsidiary Idaho Power Co.'s issuer default ratings at BBB, short-term issuer default ratings at F2 and commercial paper rating at F2.

Also affirmed are Idaho Power's senior secured rating at A- and senior unsecured rating at BBB+.

The outlook was revised to negative from stable.

The revision reflects the company's weakening underlying credit metrics due to its inability under its power cost adjustment mechanism to fully recover higher thermal generation production and purchase power costs in rates, according to the agency.

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