Fitch changes Southern Co. view to stable

Fitch Ratings said it revised the outlook for the Southern Co. and its subsidiaries to stable from negative.

“The revision in outlook reflects the steps taken by management to reduce leverage and strengthen its balance sheet and the improvement in business risk profile since the negative outlook was assigned two years ago,” Fitch said in a press release.

Fitch also changed the outlooks to stable and affirmed BBB+ issuer default ratings for the Southern Co., Alabama Power Co. at A, Alabama Power Co. Capital Trust V’s trust preferred stock at A-, Southern Power Co. at BBB+, Southern Co. Gas at BBB+, Southern Co. Gas Capital’s senior unsecured notes at BBB+, Atlanta Gas Light Co. at BBB+, Nicor Gas Co. at A and Southern Electric Generating Co. at A.

Fitch also affirmed Georgia Power Co.’s BBB+ rating but kept the negative outlook citing the risks with its Vogtle 3 and 4 nuclear units.

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