Fitch rates WEC Energy notes BBB+

Fitch Ratings said it assigned a BBB+ rating to WEC Energy Group, Inc.'s senior note issuance.

WEC's long-term issuer default rating is BBB+ with a stable outlook.

WEC's credit profile is supported by earnings and cash flow diversity provided by ownership of multi-state electric and gas utilities operating under constructive regulatory regimes, Fitch said.

The ratings also reflect relatively high parent leverage, the agency said.

The company's large consolidated capital expenditure program through 2022 is expected to pressure WEC's credit metrics in the near-to intermediate-term, Fitch said, but is manageable within the current rating category.

The company's credit profile benefits from regulatory scale provided by the ownership of eight multi-state regulated electric and natural gas utility businesses, the agency said.

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