...Appalachian Power Company's (APCo) ratings reflect the company's integrated electric utility asset base and credit supportive regulatory environment in Virginia, along with the improving environment in West Virginia. The company's rate base is split relatively equal between Virginia and West Virginia. The company owns or controls 7,409MW of generating capacity and has long-term power purchase agreements (PPAs) on another 919MW. The ratings also consider APCo's relationship with its parent, American Electric Power Company, Inc. (AEP; BBB+/Negative), on which APCo relies for equity contributions and access to short-term liquidity....
