Fitch rates Arizona Public Service notes

Fitch Ratings said it assigned an A rating to Arizona Public Service Co.’s $300 million senior note.

Proceeds will be used to repay short-term debt, to fund planned capital spending and for general corporate purposes.

The outlook is negative.

“The negative outlook reflects heightened regulatory risk stemming from an increasingly politicized regulatory environment in Arizona with potential negative implications for credit quality,” Fitch said.

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