Fitch affirms Consolidated Edison

Fitch Ratings said it affirmed the BBB+ issuer default ratings of Consolidated Edison, Inc. and its regulated utility subsidiaries Consolidated Edison Co. of New York, Inc. (Cecony), Orange & Rockland Utilities, Inc. and Rockland Electric Co.

Fitch also affirmed the A- ratings of the New York State Energy Research and Development Authority's issued debt, of which Cecony is the obligor.

The outlook for all entities is stable.

“ED's credit profile is supported by the predictable cash flows of regulated utility subsidiaries Cecony and ORU and the financial support it receives from them through dividends for payment of corporate expenses, dividends to common shareholders and other business matters,” the agency said in a news release.

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