Fitch rates FPL notes A-

Fitch Ratings said it assigned an A- rating to up to $400 million 8¾% series F junior subordinated debentures issued by FPL Group Capital Inc. due March 1, 2069.

The outlook is stable.

Proceeds will be added to Group Capital's general funds and used to fund investments in independent power projects or to repay commercial paper borrowings to fund such projects.

Ratings reflect the strong financial profile and robust customer base of the company's primary subsidiary, Florida Power & Light Co. (A issuer default rating), the agency said.

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