| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers K > Headlines for Kentucky Power Co. > News item |
S&P moves Kentucky Power watch to negative
S&P said it revised the outlook for Kentucky Power Co. (KPCo) to negative from developing. The agency placed the company’s BBB+ ratings on developing watch on April 28.
The revision follows the company’s parent, American Electric Power Co. Inc., reporting it plans to sell Kentucky Power and a transmission unit to Algonquin Power & Utilities Corp. for about $2.85 billion, including assumed debt of about $1.2 billion.
“The CreditWatch with negative implications reflects our expectation that we will likely downgrade KPCo by one notch as APUC, the acquiring entity, is currently rated BBB, and we expect to align our ratings on KPCo with those on APUC,” S&P said in a press release.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.