Fitch rates Pennsylvania Electric notes BBB+

Fitch Ratings said it assigned a BBB+ rating to Pennsylvania Electric Co.'s senior unsecured notes.

The company's issuer default rating is BBB and the outlook is positive.

The ratings and positive outlook on the notes reflect the distribution utility's relatively low business risk profile and the credit supportive regulatory environment in Pennsylvania, including constructive outcomes in its last two base-rate case proceedings through commission-approved settlement agreements, Fitch said.

The ratings also consider the utility's strong underlying credit metrics, low leverage and linkage with ultimate corporate parent, FirstEnergy Corp., the agency said.

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