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Prospect News home > News index > List of issuers P > Headlines for PPL Electric Utilities Corp. > News item |
Fitch: PPL Electric bonds A-
Fitch Ratings said it assigned an A- rating to PPL Electric Utilities Corp.'s new $250 million of 5.2% first mortgage bonds due 2041.
The outlook is stable.
Proceeds will be used for capital expenditures, working capital and other general corporate purposes.
The ratings are supported by leverage, interest coverage and cash flow measures that are consistent with Fitch's target financial ratios for issuers rated with a BBB issuer default rating and comparable to its peer group of electric distribution utilities with similar risk characteristics, the agency said.
The ratings also benefit from the absence of commodity price exposure and the beneficial financial impact of a $77.5 million base rate increase implemented in January, the agency added.
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