Moody's: WEC, Integrys on review

Moody's Investors Service said it placed the long-term ratings of WEC Energy Group, Inc., Wisconsin Energy Capital Corp. and Integrys Holding, Inc., including their A3 senior unsecured ratings on review for downgrade.

The prime-2 short-term ratings of WEC and Integrys are not on review, Moody's said.

The downgrade review reflects heightened structural subordination risk from higher parent company debt levels and declining consolidated financial metrics, Moody's said.

The review will consider if WEC's holding company debt will remain elevated on a sustained basis going forward, evaluate the overall negative effect of tax reform on the group's consolidated cash flows and understand future trends with regard to consolidated credit metrics, the agency said.

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