S&P revises FirstEnergy to stable

S&P said it revised its outlook on FirstEnergy Corp. and its regulated utility subsidiaries to stable from negative.

The agency also affirmed all ratings, including the BBB- issuer credit ratings on the company and its regulated utility subsidiaries, including American Transmission Systems Inc., Cleveland Electric Illuminating Co., FirstEnergy Transmission LLC, Jersey Central Power & Light Co., Metropolitan Edison Co., Monongahela Power Co., Ohio Edison Co., Pennsylvania Electric Co., Pennsylvania Power Co., Potomac Edison Co., Toledo Edison Co., Trans-Allegheny Interstate Line Co., West Penn Power Co., and Mid-Atlantic Interstate Transmission LLC.

S&P said the stable outlook reflects an expectation of reduced downside risk to its ratings on FirstEnergy as it seeks to exit its merchant generation business.

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