Moody's cuts Columbus Southern, affirms Ohio Power

Moody's Investors Service said it downgraded the ratings of Columbus Southern Power Co., including the senior unsecured rating to Baa1 from A3, and affirmed the ratings of Ohio Power Co., including the Baa1 senior unsecured rating, in conjunction with the long-planned merger of the two electric utilities, which was consummated on Dec. 31.

Both are subsidiaries of American Electric Power Co. Inc. (Baa2 senior unsecured).

The outlook for the operating company is stable.

"The financial and business profile of the combined CSP and OPCo is better aligned to the Baa1 senior unsecured level," said Bill Hunter, vice president and senior analyst at Moody's, in a news release.

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