Allegheny Energy outlook upped to positive, ratings affirmed - Fitch |
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Published
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Mon, 13 Aug 2007 05:47
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MUMBAI (Thomson Financial) - Fitch Ratings revised to positive from stable the outlook of Allegheny Energy Inc and affirmed its ratings.The ratings of its units were also affirmed, but several outlooks were revised.The outlook of Allegheny Energy Supply Company LLC and Allegheny Generating Company are revised to positive from stable. The outlook of Monongahela Power Company is revised to stable from negative. The outlook of West Penn Power Company remains stable.The positive outlook reflects Fitch's expectation that growing cash flow generation at Energy Supply will result in improvements in consolidated credit measures.In addition, Allegheny's positive outlook assumes that Maryland and Pennsylvania regulators will separately approve plans to procure power for the residential load needs of Potomac Edison Maryland and West Penn customers and recover the power purchase costs in rates beginning in January 2009 and January 2011, respectively.TFN.newsdesk@thomson.comjroCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Moody's upgrades Allegheny Tech ratings 