E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 12/23/2013 in the Prospect News Bank Loan Daily, Prospect News High Yield Daily and Prospect News Investment Grade Daily.

Fitch ups NV Energy to BBB-, BBB

Fitch Ratings said it upgraded NV Energy, Inc.'s issuer default rating to BBB- from BB+ following the completion of the acquisition of the company and its subsidiaries by MidAmerican Energy Holdings Co. (BBB+; stable).

At the same time, the agency upgraded the ratings for both Nevada Power Co. d/b/a/ NV Energy and Sierra Pacific Power Co.'s d/b/a/ NV Energy to BBB from BBB-.

Fitch removed the ratings of NV Energy, Nevada Power and Sierra Pacific from Rating Watch Positive where they were placed May 30, 2013, following the announcement of the merger agreement between NV Energy and MidAmerican Energy.

The outlooks are stable.

The one-notch upgrade of NV Energy and its utility operating subsidiaries ratings and the stable outlook is supported by the increased financial flexibility and lower funding costs afforded NV Energy and its subsidiaries by association with a larger, financially strong parent company.


© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.