Fitch gives Georgia Power notes A+

Fitch Ratings said it assigned a rating of A+ to Georgia Power Co.'s $350 million of series 2010A floating-rate senior notes due March 15, 2013.

The outlook is negative.

According to Fitch, proceeds from the sale will be used to repay $250 million of series 2008A floating-rate senior notes due March 17, 2010, to reduce short-term debt and for other general corporate purposes.

The agency added that the company's ratings are supported by its low-risk utility business, a constructive state regulatory regime, manageable debt maturities, and strong operation of predominantly baseload electric generation assets.

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