Fitch affirms Pepco

Fitch Ratings said it affirmed the long-term and short-term debt ratings of Pepco Holdings, Inc. and subsidiaries.

The outlook is stable.

The agency said that Pepco's ratings are supported by the relatively stable cash flows of its three regulated electric transmission and distribution subsidiaries, ample system liquidity, timely recovery of all power supply costs incurred to serve its default Electric Supply obligations, reasonable distribution rate case decisions in each service territory, implementation of a Bill Stabilization Adjustment in Maryland and debt reduction efforts over the past five years.

Fitch noted that the company's ratings include issuer default rating at BBB, senior unsecured debt BBB, short term issuer default rating F2 and commercial paper F2.

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