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Article: Fitch Rates Georgia Power's $250MM Sr Notes 'A+'; Stable Outlook.
- Article from:
- Business Wire
- Article date:
- March 9, 2007
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NEW YORK -- Fitch assigns an 'A+' rating to Georgia Power Company's (Georgia Power) $250 million of new 5.65% senior notes due March 1, 2037. The notes rank equally with existing and future senior unsecured debt of Georgia Power. The proceeds from the notes will be used to reduce short term debt, which totaled $645 million as of March 5, 2007, and for general corporate purposes. The Rating Outlook of Georgia Power is Stable.
Georgia Power's ratings reflect the continued strong operating performance of a mostly coal and nuclear fleet, growing service territory economy, and strong, stable financial condition. Fitch's primary credit rating concerns are the lack of ...