Fitch upgrades Allegheny Energy IDR to 'BBB-' |
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Published
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Fri, 28 Dec 2007 20:00
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SAN FRANCISCO (Thomson Financial) - Fitch Ratings said Friday it has upgraded Allegheny Energy Inc.'s issuer default rating to BBB- from BB+.The rating outlook is stable.The agency said the upgrade reflects credit improvement resulting from increases in cash flow from higher realized prices on power sales, as well as lower debt balances and associated carrying costs.Shares of Allegheny Energy rose 65 cents to $64.29.Gabriel MadwaygmCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Allegheny Energy to refinance bonds 