Fitch gives PPL bonds A-

Fitch Ratings said it has assigned an A- rating to PPL Electric Utilities Corp.'s proposed new $250 million issue of 2.5% first-mortgage bonds due Sept. 1, 2022.

The outlook is stable.

According to the agency, key rating drivers include the company's leverage, interest coverage and cash flow measures that are consistent with Fitch's target financial ratios for those issuers rated with a BBB issuer default rating and comparable to its peer group of electric distribution utilities with similar risk characteristics.

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