Fitch assigns PacifiCorp bonds A-

Fitch Ratings said it has assigned an A- rating to PacifiCorp's $1 billion first-mortgage bond issuance.

The agency said that the transaction is expected to close Jan. 8, 2009 and is composed of $350 million of 5.50% bonds due Jan. 15, 2019; and $650 million of 6.00% bonds due Jan. 15, 2039.

The proceeds from the issuance will be used to repay short- and long-term debt and for general corporate purposes, Fitch noted.

The outlook is stable.

According to the agency, PacifiCorp's ratings reflect the company's solid financial position, competitive resource base, and relatively low business risk profile.

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