S&P ups Pinnacle West view to positive

Standard & Poor's said it revised the outlook to positive from stable on Pinnacle West Capital Corp. and its integrated electric utility subsidiary, Arizona Public Service Co. The agency also said it affirmed its BBB- corporate credit rating.

The outlook revision reflects the utility's progress in managing its regulatory agenda as well as expense containment, which provide a platform for higher ratings contingent upon financial prudency entering the post-recession recovery, S&P said.

The ratings consider the company's consolidated credit quality, the agency said, which provides the company with essentially all of its consolidated net income and cash flow in 2009.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.