S&P revises WEC outlook to stable

S&P said it revised its outlook for WEC Energy Group Inc. and its subsidiary Elm Road Generating Station Supercritical LLC to stable from negative and affirmed their ratings.

“The Illinois Commerce Commission recently approved a $315 million rate increase for WEC Energy Group Inc.’s natural gas utility subsidiaries the Peoples Gas Light & Coke Co. and North Shore Gas Co., which is in line with our expectations. The rate increase follows WEC's recent announcement of issuing $1.8 billion-$2.2 billion of new common equity between 2024-2028, in addition to its commitment to fund future incremental capital beyond its base-case expectations with common equity,” the agency said in a press release.

S&P said it forecasts WEC’s FFO to debt to consistently stay above its 15% downgrade threshold.

© 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.