Fitch rates Pinnacle West notes A-

Fitch Ratings said it assigned an A- rating to Pinnacle West Capital Corp.’s issuance of $500 million of five-year senior unsecured notes due June 15, 2025.

The senior unsecured notes rank pari passu with other Pinnacle senior unsecured debt.

Proceeds will be used to pay down short-term borrowings and to refinance a $300 million unsecured bond maturing in November and a $150 million unsecured term loan maturing in December.

The outlook is negative.

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