Moody's upgrades AEP, subsidiaries

Moody's Investors Service said it upgraded American Electric Power Co., Inc.'s long-term senior unsecured rating to Baa1 from Baa2 and certain of its utility subsidiaries.

At the same time, the agency confirmed the ratings of Kentucky Power Co.

All ratings have a stable outlook.

In the actions, Moody's upgraded AEP Texas Central Co.'s senior unsecured and issuer rating to Baa1 from Baa2; AEP Texas North Co.'s issuer rating to Baa1 from Baa2; Appalachian Power Co.'s senior unsecured and issuer rating to Baa1 from Baa2; Public Service of Oklahoma's senior unsecured and issuer rating to A3 from Baa1; Indiana Michigan Power Co.'s senior unsecured and issuer rating to Baa1 from Baa2; and Southwestern Electric Power Co.'s senior unsecured and issuer rating to Baa2 from Baa3.

Moody's said it upgraded the ratings of AEP based on its diversity of utility subsidiaries cash flows, a supportive regulatory environment, a successfully executed corporate restructuring and growing rate base.

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