Fitch rates Georgia Power notes A+

Fitch Ratings said it assigned A+ ratings to Georgia Power Co.'s $100 million series 2008C 8.2% senior notes due Nov. 1, 2048 and $400 million series 2008D 6% senior notes due Nov. 1, 2013.

The outlook is stable.

Proceeds will be used to repay a portion of the company's outstanding short-term debt and for general corporate purposes including its continuous construction program.

The agency said the rating reflects Georgia Power's continued strong operating performance of a mostly low-cost coal and nuclear fleet, a strong and stable financial condition and the constructive base rate case settlement.

Fitch's credit concerns include risks associated with lack of a permanent environmental cost-adjustment mechanism in the face of rising emission compliance and uncertainty surrounding carbon emissions legislation.

© 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.