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Fitch ups Allegheny Energy senior debt to BB+
Fitch Ratings said it upgraded the issuer default rating (IDR) and senior unsecured debt ratings of Allegheny Energy, Inc. (AYE) to BB+ from BB-.
The ratings of Allegheny Energy Supply Co. LLC (AE Supply) and Allegheny Generating Co. (AGC) have also been upgraded.
The outlook for AYE, AE Supply and AGC is stable.
Fitch has also affirmed the ratings of regulated utility subsidiaries Monongahela Power Co., West Penn Power Co. and The Potomac Edison Co. with a stable outlook.
Fitch said ratings upgraded include Allegheny Energy's IDR to BB+ from BB- and senior unsecured debt to BB+ from BB-; Allegheny Energy Supply's IDR to BB from B+, senior secured debt to BBB- from BB+ and senior unsecured debt to BB+ from BB-; and Allegheny Generating's IDR to BB from B+.
Fitch also affirmed Allegheny Generating's senior unsecured debt at BB+; Monongahela Power's IDR at BBB-, first mortgage bonds at BBB+, senior unsecured debt at BBB- and preferred securities at BB+; West Penn Power's IDR at BBB- and senior unsecured rating at BBB-; The Potomac Edison Co.'s IDR at BBB, first mortgage bonds at BBB+ and senior unsecured debt at BBB-.
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