Fitch assigns El Paso Electric BBB

Fitch Ratings said it assigned a first-time rating of BBB with a stable outlook to El Paso Electric Co. The agency also assigned a BBB+ rating to El Paso’s senior unsecured debt.

“EPE’s ratings reflect its business operations as a vertically integrated electric utility serving customers in Texas and New Mexico, regulatory environments that Fitch considers to be relatively challenging. The rating assignment considers the soon-to-be-completed acquisition of EPE by an affiliate of the Infrastructure Investments Fund (IIF), an investment vehicle advised by J.P. Morgan Investment Management Inc. (JPMIM),” Fitch said in a press release.

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