Fitch assigns AA+ to CPS Energy, Texas, electric bonds

Fitch Ratings has assigned an AA+ rating to the City of San Antonio's $289.54 million of electric and gas systems revenue bonds, series 2008, issued on behalf of CPS Energy.

Proceeds of the new series 2008 bonds will partially fund CPS Energy's capital plan, including a portion of the construction of a new coal-fired power plant. The bonds are expected to price on June 5.

Fitch also affirmed the AA+ long-term rating on CPS Energy's outstanding senior ($3 billion) and subordinate ($402 million) bonds and the F1+ rating on outstanding commercial paper ($450 million). The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.