Fitch lifts AEP Transmission

Fitch Ratings said it upgraded the long-term issuer default rating of AEP Transmission Co., LLC to A- from BBB+.

The outlook is stable.

Fitch also upgraded the company’s senior unsecured rating to A from A-.

“The upgrade is the result of the positive financial impact of last year's rate settlement in its PJM Interconnection jurisdiction, which, among other modifications, provided for higher equity balance,” the agency said in a news release.

“AEPTCo has fully funded the equity component of the eastern transmission entities to the 55% allowed in the settlement.”

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