Fitch rates Southern Power notes BBB+

Fitch Ratings said it assigned a BBB+ rating to the Southern Power Co.'s $275 million incremental principal issued under its 5.15% senior notes, series 2011A, due Sept. 15, 2041.

The total principal amount of the 2011A series including the additional notes will be $575 million.

The company's issuer default rating is BBB+.

The outlook is stable.

Proceeds will be used to retire the company's series B 6.25% senior notes due July 15, 2012.

Ratings reflect the company's conservative business model, low commodity and environmental risk as well as capital spending and completion risk, the agency said.

© 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.