Fitch: Georgia Power notes A+

Fitch Ratings said it assigned an A+ rating to Georgia Power Co.'s issuance of $400 million series 2012C 0.75% senior notes due Aug. 10, 2015.

These notes are senior, unsecured obligations of Georgia Power.

The outlook is stable.

The proceeds will be used for the proposed redemption of all or a portion of its $250 million series 2007E 6.00% senior insured monthly notes due Sept. 1, 2040 and for general corporate purposes, including the ongoing construction program at the company.

The ratings are supported by the solid financial profile of the integrated utility, which benefits from constructive regulation in Georgia that limits regulatory lag, Fitch said.

The stable outlook reflects an expectation that the company will continue to receive constructive regulatory treatment of the pre-approved projects, including recovery of costs during the construction period, the agency said.

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