Moody's turns Ohio Power view to negative

Moody's Investors Service said it revised the outlook of Ohio Power Co. to negative from stable and affirmed its current ratings, including its A3 senior unsecured and issuer ratings.

"The negative outlook on Ohio Power reflects Moody's view that, considering the company's elevated capital expenditure program, its financial profile will be weaker than we had previously expected" said Nana Hamilton, a Moody’s vice president and senior analyst, in a press release.

The outlook also considers Ohio Power's rate case settlement filed on March 12, which calls for a $68 million net reduction in base rates based on a 9.7% return on equity and a 54% equity layer, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.