Fitch Rates Alabama Power Company's $200MM Senior Notes 'A+'.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 Ratings has assigned a rating of 'A+' to the $200 million 5.2% senior notes due Jan. 15, 2016 (notes) issued by the Alabama Power Company Alabama Power Company is a company in the southern United States that provides electricity service to 1.3 million homes, businesses, and industries in the southern two-thirds of Alabama. It is one of four U.S. (APC (1) (American Power Conversion Corporation, West Kingston, RI, www.apcc.com) The leading manufacturer of UPS systems and surge suppressors, founded in 1981 by Rodger Dowdell, Neil Rasmussen and Emanual Landsman, three electronic power engineers who had worked at MIT. ). The notes rank equally with APC's existing senior unsecured debt. The proceeds from the offering are expected to be used to reduce short term debt, fund the continuous construction program, and for other general corporate purposes. The Rating Outlook of APC is Stable. Alabama Power is an electric utility engaged in the generation, transmission and distribution, and sale of electricity in a 44,500 square mile service territory encompassing most of the State of Alabama. Alabama Power is wholly owned by the Southern Company, which owns five public utilities operating in four Southeastern states as well as an unregulated generation subsidiary. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, 'www.fitchratings.com'. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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