Moody’s revises Georgia Power to negative

Moody's Investor Service said it changed Georgia Power Co.’s outlook to negative from stable and affirmed its ratings, including the A3 senior unsecured and issuer rating.

The agency also affirmed the ratings of its parent company, Southern Co., including its Baa2 senior unsecured rating and Prime-2 short-term rating for commercial paper, with a stable outlook.

Moody's also affirmed the ratings of Southern Electric Generating Co., including its A1 senior unsecured rating, with a stable outlook.

"The negative outlook on Georgia Power reflects the increased credit and regulatory risk facing the company due to the uncertain future of Westinghouse, the construction contractor building the new Vogtle nuclear units, and its parent company Toshiba," Moody’s associate managing director Michael G. Haggarty said in a news release.

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