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Article: Fitch Affirms Ratings of FPL Group and Subsidiaries; Outlook Stable.
- Article from:
- Investment Weekly News
- Article date:
- November 14, 2009
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Fitch Ratings has affirmed the ratings of FPL Group, Inc. (FPL), FPL Group Capital, Inc. (Group Capital) and Florida Power & Light Company (FP&L), following a regular credit review. The Rating Outlook for all three entities is Stable. The rating affirmations affect approximately $12.6 billion of securities. A complete list of ratings is set forth below.
FPL's Issuer Default Rating (IDR) of 'A' is based upon the combined sources of cash flow available to the group from FP&L, a large and robust electric utility, and from a profitable business as a developer and owner/operator of generation assets through indirect subsidiary NextEra. Group Capital is an intermediate ...