Fitch affirms Avista

Fitch Ratings said it affirmed Avista Corp.'s long-term issuer default rating at BBB-, senior secured debt at BBB+, senior secured bank facility at BBB+, senior unsecured debt at BBB and short-term issuer default rating at F3. The agency also said it affirmed Avista Capital II's preferred securities at BB+.

The outlook is stable.

The ratings reflect Avista's balanced regulatory environment, low-cost hydroelectric generation fleet and continued focus on the core utility business, Fitch said.

Credit concerns include the relatively unpredictable nature of hydroelectric operating conditions from year to year, the agency said, and the negative impact on cash flows during times of low hydroelectric output.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.