FirstEnergy cuts $1.45 billion of debt; credit metrics high into 2021

By Devika Patel

Knoxville, Tenn., Feb. 21 – FirstEnergy Corp. has reduced debt at the parent level by $1.45 billion and expects that this will result in investment-grade credit metrics for at least three years.

“We reduced holding company debt by $1.45 billion and, as a result, we are positioned for sustained investment-grade credit metrics through at least 2021,” president and chief executive officer Charles E. Jones said on the company’s fourth quarter and year ended Dec. 31, 2017 earnings conference call on Wednesday.

The diversified energy holding company is based in Akron, Ohio.

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