S&P lifts Wisconsin Energy

Standard & Poor's said it raised the corporate credit rating on Wisconsin Energy Corp. to A- from BBB+, along with its unsecured hybrid junior subordinated notes to BBB from BBB-.

The agency also said it affirmed at A- ratings and A-2 commercial paper ratings on the company's subsidiaries, Wisconsin Electric Power Co. (Wepco) and Wisconsin Gas LLC, and affiliate Elm Road Generating Station Supercritical LLC.

The outlook is stable.

The upgrade can be traced to modest financial improvement that is consistent with expectations for an A- corporate credit rating, S&P said.

The revision also reflects completion of the company's generation-related construction program, substantial progress on its environmental compliance and renewable energy construction programs and expectations for continued credit-supportive regulation in Wisconsin, the agency said.

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