Fitch rates Southern Co. notes BBB-

Fitch Ratings said it assigned a BBB- rating to Southern Co.’s remarketable junior subordinated notes due 2024 and 2027.

The notes are being sold as part of an equity unit offering.

“The negative outlook reflects material execution risks ahead for Georgia Power Company regarding the construction and testing of Vogtle 3 and 4 nuclear units, given that the project will enter a productivity ramp-up phase and that challenges associated with achieving the desired level of productivity persist; however, the company has made progress. Georgia Power is the largest subsidiary of Southern Company and accounts for more than two-thirds of the consolidated EBITDA,” said Fitch in a news release.

© 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.