Moody’s keeps Kentucky Power at Baa3

Moody's Ratings affirmed Kentucky Power Co.’s Baa3 senior rating and issuer rating.

The outlook is maintained stable.

"KPCo's recently authorized rate increase and financing order approving cost recovery via securitization will drive an improvement in financial metrics from the low levels achieved in recent history," stated Nana Hamilton, Moody's analyst.

Over the next few years, the company is expected to generate a ratio of cash flow from operations before changes in working capital to debt in the low teens, compared to an average of about 7% over the last three years.

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