Fitch rates Georgia Power notes A+/F1

Fitch Ratings said it assigned an A+/F1 rating to Georgia Power Co.'s issuance of $200 million series 2013C floating-rate senior notes due Aug. 15, 2016.

These notes are senior, unsecured obligations of Georgia Power.

The outlook is stable.

The proceeds from the offering will be used to repay a portion of Georgia Power's outstanding short-term indebtedness and for general corporate purposes, including the continuous construction program at the company, Fitch said.

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

The execution risk associated with this significant project and the attendant external financing needs also are considered in the ratings, Fitch said.

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