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Appalachian Power Co. Dec 11
Standard & Poors, Dec 2011
Abstract
Steady operating cash flow from regulated utilities; Part of a large, diverse regulated electric utility company; and Low-cost generation. Financial measures could be pressured from exposure to environmental regulations; Increased unregulated generation may weaken business profile; and Parent's marketing operations detract from credit profile. Standard & Poor's Ratings Services bases its ratings on Appalachian Power Co. on the consolidated credit profile of its parent, American Electric Power Co. Inc. (AEP), which includes regulated and unregulated operations. Appalachian Power is a vertically integrated, fully regulated electric utility that serves southwestern Virginia and southern West Virginia. We consider Appalachian Power's business risk profile excellent and financial risk profile aggressive. AEP's business risk is considered excellent. (For more on business risk and financial...
Companies mentioned in this report are: Appalachian Power Co.,AEP Texas Central Co.,Columbus & Southern Ohio Electric Co.,Indiana Michigan Power Co.,Kentucky Power Co.,Ohio Power Co.,Public Service Co. of Oklahoma,AEP Texas North Co.,American Electric Power Co. Inc.,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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