Moody’s: Wisconsin Gas, WPSC, Wepco to negative

Moody's Investors Service said it affirmed the ratings of Wisconsin Gas LLC (A1 senior unsecured), Wisconsin Public Service Corp. (WPSC, A1 senior unsecured), Wisconsin Electric Power Co. (Wepco, A1 issuer rating) as well as Elm Road Generating Station Supercritical (A1 senior unsecured), and changed the outlooks to negative from stable.

In addition, the agency affirmed the ratings of WEC Energy Group, Inc., Wisconsin Energy Capital Corp. and Integrys Holding, Inc., including their A3 senior unsecured ratings. It also affirmed the ratings of the two local gas distribution company (LDC) subsidiaries operating in Illinois, namely Peoples Gas Light & Coke Co. and North Shore Gas Co., including their A2 issuer ratings.

The outlooks remain stable.

Moody’s said the negative outlook on Wisconsin Gas, WPSC and Wepco is largely driven by the expectation that, despite the anticipated moderation in their capital expenditures going forward, particularly for WPSC and Wisconsin Gas, key credit metrics of the three utilities will remain more commensurate with the mid-range of the A-scoring range for this factor for standard business risk in the regulated electric and gas utilities rating methodology scorecard grid.

© 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.