Moody's ups American Electric outlook to stable

Moody's Investors Service said it changed the outlook for American Electric Power Co. (Baa2 senior unsecured) to stable from negative.

The change in outlook to stable from negative reflects the material changes in American Electric's corporate finance policies, which appears to have arrested the deterioration in the company's consolidated financial credit metrics, the agency said.

In 2009, American Electric produced a ratio of cash flow from operations before working capital adjustments to debt of about 17.6%, a noticeable improvement from the 13.4% generated in 2008 and the 14.4% generated in 2007, Moody's added.

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