Fitch rates Delmarva bonds A

Fitch Ratings said it assigned an A rating to Delmarva Power & Light Co.'s issuance of $250 million of 4% secured first-mortgage bonds due in 2042.

The outlook is stable.

Net proceeds from the offering will be used for general corporate purposes, including repayment of about $215 million of commercial paper outstanding and redemption of $31 million of tax exempt debt, the agency said.

Fitch noted that Delmarva's ratings reflect stable and predictable cash flows generated from its regulated electric transmission and distribution and gas distribution businesses.

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