...Low-Risk Regulated Business Profile: Public Service Company of Oklahoma (PSCO) is a regulation-based monopolistic utility in Oklahoma and is regulated by the Oklahoma Corporation Commission (OCC). The regulatory environment in Oklahoma is stable. Current regulations have eliminated PSCO's exposure to commodity price risk and environmental regulation compliance costs. Parental Liquidity Support: PSCO's operational, financial and functional ties to its parent, American Electric Power Company, Inc. (AEP, BBB/Stable), supplement its credit risk profile. PSCO participates in AEP's utility money pool and is a part of AEP's treasury functions. The utility pool is approved by the regulators, allows utilities to share excess cash and provides short-term financing to the utilities within the AEP family of companies. The breadth of AEP's liquidity and its access to capital markets remain strong features of PSCO's credit profile. Modest Rate Settlement: The proposed general rate case settlement will...
