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S&P affirms Puget Energy, Puget Sound Energy
S&P said it affirmed the ratings on Puget Energy Inc., including the BBB- issuer credit rating and BBB- issue-level rating on its senior unsecured debt.
The agency also affirmed the ratings on Puget Sound Energy Inc., including the BBB issuer credit rating and A- issue rating on its first mortgage bond. The A-2 short-term rating is unchanged.
The outlook is stable.
In addition, the agency revised both entities’ stand-alone credit profiles to bbb+ from bbb.
The affirmation follows a recent regulatory order by the Washington Utilities and Transportation Commission for subsidiary Puget Sound Energy on its general rate case, including an overall rate decrease and a plan to recover costs associated with its closure of two coal plants by 2022.
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