Fitch affirms Wisconsin Energy

Fitch Ratings said it affirmed Wisconsin Energy Corp. and its subsidiaries, Wisconsin Electric Power Co. (Wepco), Wisconsin Gas LLC (WI Gas), Wisconsin Energy Capital Corp. (WECC) and Elm Road Generating Station Supercritical LLC.

Wisconsin Energy's issuer default rating was affirmed at A-, senior unsecured debt at A-, junior subordinated debentures at BBB and short-term issuer default rating and commercial-paper rating at F2.

WECC's issuer default rating was affirmed at A- and senior unsecured debt at A-.

Wepco's issuer default rating was affirmed at A, senior unsecured debt at A+, preferred stock rating at A- and short-term issuer default rating and commercial-paper rating at F1.

WI Gas' issuer default rating was affirmed at A, senior unsecured debt at A+, short-term issuer default rating and commercial-paper rating at F1.

Elm Road's issuer default rating was affirmed at A and senior unsecured debt at A+.

The outlook is stable.

The company's credit profile and stable outlook reflect the solid credit profile and relatively predictable cash flows of its two regulated operating subsidiaries, Wepco and WI Gas, Fitch said.

Management strategy is focused on its core utility operations, which benefit from a balanced regulatory compact in Wisconsin that accounts for the vast majority of consolidated earnings and cash flows, the agency said.

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