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Fitch Ratings
Fitch Rates $500MM 5.95% Notes of Georgia Power Company 'A+'; Outlook Stable
February 22nd, 2009
Fitch Ratings assigns a rating of 'A+' to Georgia Power Company's (GPC) $500 million series 2009A 5.95% senior notes due Feb. 1, 2039. The new notes are unsecured and rank equally with existing and future unsecured debt of GPC. The proceeds from these notes will be used to repay its series U senior notes, a portion of outstanding short-term indebtedness and for the general corporate purposes including GPC's continuous construction program. The Rating Outlook is Stable. Fitch's rating of GPC reflects the continued strong operating performance of a mostly low-cost coal and nuclear fleet, a strong and stable financial condition. The December 2007 base rate settlement with...
Source: Pharma Investments, Ventures & Law Weekly (2009-02-22)
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