Fitch rates Virginia Electric notes A

Fitch Ratings said it assigned an A rating to Virginia Electric and Power Co.'s offering of $500 million 2019 series A senior notes due July 15, 2029.

Proceeds will be used for general corporate purposes and to repay short-term debt, which included $1.3 billion in outstanding commercial paper as of June 30.

The notes will rank equally with all other senior unsecured debt and will be senior in right of payment to all subordinated debt.

The outlook is stable.

“VEPCo's current and projected credit metrics are supportive of the company's current ratings,” the agency said in a news release.

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