Fitch gives Wisconsin Electric notes A+

Fitch Ratings said it assigned an A+ rating to Wisconsin Electric Power Co.'s new $250 million issuance of 4.25% senior unsecured debentures due June 1, 2044.

The outlook is stable.

The new notes will rank pari passu with Wisconsin Electric's existing senior unsecured obligations. Net proceeds will be used to repay short-term debt and for working capital and other corporate purposes.

Fitch said Wisconsin Electric's ratings reflect the low-risk profile of its regulated utility business that operates in what the agency considers to be constructive regulatory regimes across the regulatory jurisdictions of Wisconsin and Michigan. Wisconsin represents about 87% of Wisconsin Electric's operating revenue and is the main driver of the utility's financial performance.

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