Fitch upgrades PPL Electric

Fitch Ratings said it upgraded the long-term issuer default rating of PPL Electric Utilities Corp. to BBB+ from BBB and secured debt to A from A-.

The outlook is stable.

Fitch also affirmed the BBB long-term issuer default ratings on PPL Corp. and PPL Capital funding Inc., and revised their outlooks to positive.

Fitch also said it affirmed the A- long-term issuer default ratings of Louisville Gas and Electric Co. and Kentucky Utilities Co., along with the BBB+ long-term issuer default rating of LG&E and KU Energy LLC. The outlook for each of these entities is stable.

The ratings reflect the company’s expected transformation to a fully regulated utility holding company with operations in several supportive regulatory jurisdictions, Fitch said.

The ratings also consider PPL Electric Utilities’ increasing presence in the transmission space and improving Pennsylvania regulations, the agency said.

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