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S&P: American Water Capital notes BBB+
Standard & Poor's said it assigned its BBB+ rating to American Water Capital Corp.'s proposed issuance of $60 million senior unsecured monthly notes due 2039.
American Water Capital will use proceeds from the issuance to repay short-term borrowings.
S&P said it also affirmed its BBB+ issuer credit ratings on American Water Works Co. Inc. and its funding subsidiary American Water Capital.
The outlook on the companies is stable.
The stable outlook reflects S&P's expectation of continued rate increases during the next three years to address rising costs and capital spending plans.
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