Fitch Affirms MidAmerican Energy Holdings at 'BBB' After PacifiCorp Acquisition Announced.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Fitch has affirmed the 'BBB' senior unsecured and 'BBB-' preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. ratings of MidAmerican Energy MidAmerican Energy may refer to one of the following:
PPW Professional Photographers of Washington PPW Plebe Parent Weekend (United States Military Academy) PPW Parallel Plate Waveguide PPW Points Per Wavelength PPW Plasma Powder Welding , rated 'A-' senior unsecured, Rating Outlook Stable by Fitch) from Scottish Power PLC (rated 'BBB+', Rating Outlook Stable by Fitch) for approximately $9.6 billion, including the assumption of $4.5 billion of debt and preferred stock. The ratings of PPW have also been affirmed; see the separate commentary 'Fitch Ratings Affirms PPW's Ratings; Rating Outlook Stable,' for information. The ratings affirmation and Stable Outlook assume the acquisition will be financed in a manner that will maintain or improve MEHC's current capital structure and credit quality. Prior acquisitions, including that of Kern River Pipeline Kern River Pipeline is a natural gas pipeline 1,679 miles (2,702 km) long that carries gas produced in the Rocky Mountains to California by following the Kern River through Nevada. It also provides gas to Las Vegas. and Northern Natural Gas, were funded with a substantial equity component from Berkshire Hathaway. Fitch is confident that MEHC can raise additional financing on similar terms to complete this acquisition. The rating affirmation also recognizes that PPW would add another source of stable, regulated cash flows to MEHC's portfolio of domestic electric utility and pipeline assets. The acquisition is subject to approval by the shareholders of Scottish Power, as well as a number of state and federal regulatory commissions and is expected to take 12-15 months to consummate. MEHC, a majority-owned subsidiary majority-owned subsidiary A firm in which more than 50% of outstanding voting stock is owned by the parent company. of Berkshire, provides electric and gas service to more than five million customers worldwide through its regulated subsidiaries. |
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