S&P drops Alliant, Interstate Power to stable

Standard & Poor's said it revised its outlook on Alliant Energy Corp. and subsidiary Interstate Power & Light Co. to stable from positive.

The agency said it affirmed the BBB+ corporate credit ratings on Alliant and IPL and the A- corporate credit rating on affiliate Wisconsin Power & Light Co. The short-term ratings on Alliant, IPL, and WPL are A-2.

"The outlook revision to stable reflects our base forecast expectation that Alliant's and IPL's currently robust financial measures will weaken due to declining funds from operations from the loss of bonus depreciation and rising debt levels to fund growing capital investments," said S&P credit analyst Gerrit Jepsen in a news release.

The ratings affirmations on Alliant, IPL, and WPL, and Alliant Energy Resources LLC are based on a consolidated credit profile that consists of an "excellent" business risk profile and a "significant" financial risk profile, S&P said.

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