S&P: Virginia Electric notes BBB+

S&P said it assigned its BBB+ rating to Virginia Electric & Power Co.'s proposed 2017 series A senior unsecured notes due 2027.

The company intends to use the proceeds for general corporate purposes and to repay short-term debt.

As of Feb. 28, 2017, Virginia Electric had $350 million in commercial paper outstanding.

The issuer credit rating is BBB+ with a stable outlook. The short-term rating is A-2.

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