Fitch rates PPL Energy notes BBB+

Fitch Ratings said it assigned a BBB+ rating to PPL Energy Supply, LLC's $400 million 6½% issue of senior notes due May 1, 2018.

The outlook is stable.

Proceeds will be used to fund capital expenditures, including those relating to the installation of pollution control equipment at two coal-fired generating stations in Pennsylvania and for general corporate purposes.

The rating reflects the company's sound credit profile, the favorable competitive position of it's largely coal and nuclear generating fleet and the improving market fundamentals in the region where the majority of the company's assets are located, the agency said.

Ratings are further supported by expectations of significant improvement in earnings and cash flow in 2010, Fitch said.

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