S&P: TECO Energy view positive

Standard & Poor's said it changed the outlook on TECO Energy Inc. and its utility subsidiary Tampa Electric Co. to positive from stable, and affirmed the BBB- ratings.

S&P said the outlook revision is based on the prospect that a low-risk business profile, coupled with improving financial performance, could lead to higher ratings in the next 12 to 18 months.

Despite almost $3 billion of capital spending planned for the next five years, the agency said TECO should be able to achieve better credit metrics as it focuses on achieving greater cash realization through the regulatory process.

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