American Electric Power Co. Inc. $850 Million Remarketed Junior Subordinated Debentures Rated 'BBB+'

NEW YORK (S&P Global Ratings) June 1, 2023--S&P Global Ratings today assigned its issue-level rating of 'BBB+' on American Electric Power Co. Inc.'s (AEP) $850 million remarketed junior subordinated debentures due Aug. 15, 2025. This is based on our review of the debentures' proposed terms and conditions. We assess the remarketed junior subordinated debentures as senior unsecured debt because the notes are unsecured and subordinated. As such, we rate them 'BBB+', which is in line with our rating on the company's senior unsecured debt and one notch below our 'A-' issuer credit rating. For the complete issuer credit rating rationale, please see our most research update on AEP, published April 20, 2023, on RatingsDirect. General Criteria: Hybrid Capital: Methodology And

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