S&P turns Southern Co. view to positive

S&P said it changed its outlook for Southern Co. and its subsidiaries to positive from stable after the company’s nuclear power plant, Vogtle Unit 3, started commercial operations on Monday.

Vogtle 4 is expected to start commercial operations in the first quarter of 2024.

“The positive outlook reflects the commercial operations of Vogtle Unit 3 and expectations for decreasing construction risk related to Vogtle Units 3 and 4. It also reflects our expectation for gradually improving consolidated financial measures. Specifically, we expect funds from operations (FFO) to debt will improve to consistently greater than 17% beginning in 2024,” S&P said in a press release.

The agency also affirmed its ratings for Southern Co. and its subsidiaries.

© 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.