Moody's rates Elm Road Generating A1

Moody's Investors Service said it assigned an A1 rating to $530 million of senior notes to be issued by Elm Road Generating Station Supercritical, LLC.

The outlook is stable.

Moody's said the A1 rating reflects the credit profile of Wisconsin Electric Power Co. (A1 senior unsecured rating), Elm Road's source of cash flow.

The rating is also supported by a framework that mitigates certain regulatory and operational risks, the agency said.

Wisconsin Electric's A1 issuer rating reflects strong credit metrics and a supportive regulatory environment that provides for excellent revenue and cash flow visibility as well as timely cost recovery opportunities, the agency noted.

The rating also considers the group's overall conservative business strategy, the agency said.

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