Fitch gives PacifiCorp bonds A-

Fitch Ratings said it assigned an A- rating to PacifiCorp's $800 million first mortgage bond issuance, adding that the transaction is expected to close on July 17 and is composed of $500 million of 5.65% bonds due July 15, 2018 and $300 million of 6.35% bonds due July 15, 2038.

Proceeds from the issuance will be used for general corporate purposes, the agency said.

The outlook is stable.

Fitch said that PacifiCorp's ratings reflect the company's solid financial position, competitive resource base and relatively low business risk profile.

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