Fitch rates new LG&E, KU Energy notes BBB+

Fitch Ratings said it assigned a BBB+ rating to LG&E and KU Energy LLC's new $250 million issue of senior notes due 2021.

The outlook is stable.

Proceeds will be used to make a return of capital to its corporate parent, PPL Corp.

Fitch said key rating drivers include the predictable cash flow and strong credit profile of KU Energy's two regulated utility subsidiaries Kentucky Utilities Co. [issuer default rating of A-) and Louisville Gas and Electric Co. (IDR A-).

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