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Allegheny Energy Supply Co. LLC's $600 Million Senior Unsecured Debt Rated At 'BBB-' Sep 09
Standard & Poors, Sep 2009
Abstract
We assigned 'BBB-' ratings to Allegheny Energy Supply Co. LLC's (Allegheny Supply) $350 million and $250 million senior unsecured medium-term notes dues 2019 and 2039, respectively. The company is using the proceeds to repay an existing $447 million term loan due May 2011 and to prepay a 7.8% $150 million medium-term note tranche also due in 2011 due March 2011. NEW YORK (Standard & Poor's) Sept. 24, 2009--Standard & Poor's Ratings Services assigned the 'BBB-' ratings to Allegheny Supply's $350 million, 5.75% medium-term notes due 2019 and $250 million, 6.75% medium-term notes due 2039. The ratings on Allegheny Supply reflect the credit quality of parent Allegheny Energy Inc. (Allegheny Energy). The ratings on the parent reflect lower-risk regulated operations and...
Companies mentioned in this report are: Allegheny Energy Supply Co. LLC
Action: Affirmed
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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