Alliant Energy Corp.'s Proposed Convertible Notes Due 2026 Rated 'BBB+'

NEW YORK (S&P Global Ratings) Feb. 27, 2023--S&P Global Ratings today assigned its 'BBB+' issue-level rating to Madison, Wis.-based Alliant Energy Corp.'s proposed convertible senior unsecured notes due March 2026. We rate the unsecured debt one notch below our issuer credit rating on the company because the priority debt at its subsidiaries accounts for more than 50% of its total consolidated debt. Alliant intends to use the net proceeds from this offering for general purposes, which may include funding working capital, the repayment or refinancing of debt, construction or acquisition costs, investments, and the repurchase and redemption of securities. We do not assess the convertible notes as a hybrid security because of their lack of deferability, as defined in our

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