Fitch lifts Avista

Fitch Ratings said it has upgraded Avista Corp. and its subsidiary Avista Capital II's issuer default ratings and debt ratings as follows:

• Avista's long-term issuer default rating to BBB- from BB+; senior secured debt to BBB+ from BBB; secured bank facility to BBB+ from BBB; senior unsecured debt to BBB from BBB-; and short-term issuer default rating to F3 from B; and

• Avista Capital II's preferred securities to BBB- from BB+.

The outlook is stable.

According to the agency, the upgrades and stable outlook mainly reflect Avista's more balanced regulatory environment, an improved financial profile, and management focus on the core utility business.

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