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Fitch rates Public Service Co. of Oklahoma notes BBB+
Fitch Ratings said it assigned a BBB+ rating to Public Service Co. of Oklahoma's $250 million issuance of 4.4% senior notes due Feb. 21, 2021.
The new notes are senior unsecured obligations of the company and rank pari passu with the company's existing senior unsecured indebtedness, Fitch said.
The proceeds will be used to repay outstanding long-term debt.
The outlook is stable.
The ratings take into consideration the company's stable cash flow generation from regulated electric operations, adequate credit protection measures and affiliation with parent company, American Electric Power Co., Fitch said.
The company also benefits from the operational and functional ties with America Electric, including participating in its money pool, the agency said.
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