Fitch rates Wisconsin Electric notes A+

Fitch Ratings said it assigned an A+ rating to Wisconsin Electric Power Co.'s new $300 million issue of 2.95% senior unsecured debentures due Sept. 15, 2021.

The outlook is stable.

The proceeds will be used to repay short-term debt and for working capital and other general corporate purposes.

The ratings are supported by leverage and cash flow measures that are consistent with the target financial ratios for issuers rated at A, Fitch said.

The company's businesses operate with a fuel and purchased power recovery mechanism that limits commodity price exposure and cash flow volatility and lowers business risk, the agency said.

© 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.