Fitch affirms Georgia Power

Fitch Ratings said it affirmed the long-term issuer default rating of Georgia Power Co. at BBB+, removed the ratings from negative watch and assigned a negative outlook.

The agency said the action follows a successful vote by the co-owners of the Vogtle nuclear project in favor of continuing the construction.

The negative outlook reflects material execution risks still ahead given that direct construction is less than 50% complete and challenges associated with attracting skilled workforce to the site, managing wage inflation and achieving the desired level of productivity continue to persist, Fitch said.

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