Moody's: Southwestern Electric view positive

Moody's Investors Service said it affirmed the ratings and stable rating outlook for American Electric Power Co. and changed the outlooks for subsidiaries AEP Texas North Co., AEP Texas Central Co. and Southwestern Electric Power Co. (Swepco) to positive from stable.

"The positive rating outlook for Swepco reflects its supportive and diversified regulatory environments," associate managing director Jim Hempstead said in a news release.

"We see last Thursday's decision in Texas as basically removing the last remaining overhang risks related to Swepco's Turk power plant. We think the Texas decision is positive for Swepco, as it brings a new coal-fired generating facility into rate base in the presence of today's increasingly stringent environmental mandates," Hempstead added in the release.

© 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.