Fitch Rates Boston Edison Co.'s $200MM Debentures 'AA-'.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 an 'AA-' rating to Boston Edison Co.'s (BECO BECO Boston Edison Company BECO Banana Export Company BECO Bschawrut Enterprises Co. BECO Booster Engine Cut-Off BECO Building Environment Council of Ohio (Columbus, OH) BECO Building Emergency Control Organisation ) new issue of $200 million 5.75% debentures, due 2036. The new debentures will rank equally with BECO's other senior unsecured obligations. Proceeds of the new issue will be used to repay a portion of the company's outstanding commercial paper obligations. The commercial paper was issued to finance capital expenditure and general working capital needs. The Rating Outlook is Stable. BECO is a regulated utility subsidiary of NSTAR NSTAR NASA Solar Electric Propulsion Technology Application Readiness which provides service to approximately 700,000 electric distribution customers in the city of Boston and the surrounding communities. BECO's sole owner and parent is NSTAR (senior unsecured debt rated 'A' by Fitch). 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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