Fitch rates PPL paper F2

Fitch Ratings said it assigned an F2 rating to PPL Energy Supply LLC's $500 million commercial paper program, which is consistent with its BBB issuer default rating.

In support of CP borrowings and other working capital needs the company has $4 billion of bank credit facilities that are well in excess of the CP program, the agency noted.

Debt maturities are well laddered with $500 million due in November 2011 and $300 million in each of the years 2013 and 2014. There are no debt maturities in 2012.

For the 12-months ended June 30, debt-to-EBITDA ratio was below 2 times.

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