Fitch rates Georgia Power notes A+

Fitch Ratings said it assigned a rating of A+ to the $500 million of senior unsecured notes due Sept. 15, 2013 issued by Georgia Power Co.

The outlook is negative.

Proceeds will be used to redeem various series of pollution control bonds as well as other general corporate purposes, including the company's continuous construction program.

Georgia Power'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, the agency said.

Concerns include the potential financial stress associated with a large capital expenditure program and additional costs imposed by any new environmental compliance regulations, the agency noted.

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