S&P revises Ohio Edison stand-alone

S&P said it affirmed its ratings on Ohio Edison Co., including the BBB- issuer credit rating, the BBB- senior unsecured debt rating, the BBB+ first-mortgage bond rating and the A-3 short-term rating.

The outlook remains stable.

At the same time, the agency revised the stand-alone credit profile to a+ from a.

S&P said its revised assessment of the company’s stand-alone credit profile reflects an expectation of sustained strengthening financial measures following the company's implementation of its distribution modernization rider under its electric security plan, despite moderately negative cash flow impacts stemming from U.S. corporate tax reform.

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