Moody's: Portland General Electric view positive

Moody's Investors Service said it changed the outlook for Portland General Electric Co. to positive from stable and affirmed its Baa1 senior secured rating and Prime-2 short-term rating for commercial paper.

The outlook change reflects Moody's view that the company's credit metrics are strong for the rating category and its expectation that Portland General Electric will continue to follow conservative financing strategies to fund its current large capital program.

The agency said the ratings reflect Portland General Electric's business and regulatory risk profile, which takes into account the efficiency of its generation fleet, careful cost controls and generally credit-supportive rate case outcomes in the past, due in part from the benefits of using a forward test year to minimize regulatory lag.

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