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American Electric Power Co. Inc. Dec 11
Standard & Poors, Dec 2011
Abstract
Mostly steady operating cash flow from regulated utilities; Large and diverse customer base; Geographic diversity; and Low-cost generation fleet. Exposure to environmental regulations could pressure financial measures; Marketing operations weaken creditworthiness; and Increased unregulated generation may pressure business profile. Standard & Poor's Ratings Services' ratings on American Electric Power Co. Inc. (AEP) reflect its consolidated credit profile, which includes regulated and unregulated operations. We consider the company's business risk profile excellent and its financial risk profile aggressive. (For more on business risk and financial risk, see 'Business Risk/Financial Risk Matrix Expanded,' published on May 27, 2009, on RatingsDirect.) The excellent business profile primarily reflects AEP's status as a large public utility holding company that owns regulated electric utility subsidiaries operating...
Companies mentioned in this report are: American Electric Power Co. Inc.,Appalachian Power Co.,AEP Texas Central Co.,Indiana Michigan Power Co.,Kentucky Power Co.,Ohio Power Co.,Public Service Co. of Oklahoma,AEP Texas North Co.,Columbus Southern Power Co.,RGS (AEGCO) Funding Corp.,RGS (I&M) Funding Corp.
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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