Bulletin: Credit FAQ: FirstEnergy Corp. And Subsidiaries' Credit Quality Improves As It Works To Resolve Legal Issues - S&P Global Ratings’ Credit Research

Bulletin: Credit FAQ: FirstEnergy Corp. And Subsidiaries' Credit Quality Improves As It Works To Resolve Legal Issues

Bulletin: Credit FAQ: FirstEnergy Corp. And Subsidiaries' Credit Quality Improves As It Works To Resolve Legal Issues - S&P Global Ratings’ Credit Research
Bulletin: Credit FAQ: FirstEnergy Corp. And Subsidiaries' Credit Quality Improves As It Works To Resolve Legal Issues
Published Nov 04, 2021
6 pages (3032 words) — Published Nov 04, 2021
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About This Report

  
Abstract:

On Oct. 19, 2021, S&P Global Ratings raised its issuer credit ratings (ICRs) to 'BB+' from 'BB' on FirstEnergy Corp. (FE) subsidiaries: American Transmission Systems Inc. (ATSI), Cleveland Electric Illuminating Co. (CEI), Jersey Central Power&Light Co. (JCP&L), Mid-Atlantic Interstate Transmission LLC (MAIT), Metropolitan Edison Co. (MetEd), Monongahela Power Co. (MonPower), Ohio Edison Co. (OE), Potomac Edison Co. (PE), Pennsylvania Electric Co. (Penelec), Pennsylvania Power Co. (Penn Power), Toledo Edison Co. (TE), Trans-Allegheny Interstate Line Co. (TrAIL), and West Penn Power Co. (WPP). At the same time, we affirmed our 'BB' ICRs at FE and FirstEnergy Transmission LLC (FET). The ratings on FE and its subsidiaries remain on CreditWatch with positive implications, reflecting the probability that we could raise

  
Brief Excerpt:

...November 4, 2021 On Oct. 19, 2021, S&P Global Ratings raised its issuer credit ratings (ICRs) to '##+' from '##' on FirstEnergy Corp. (FE) subsidiaries: American Transmission Systems Inc. (ATSI), Cleveland Electric Illuminating Co. (CEI), Jersey Central Power & Light Co. (JCP&L), Mid-Atlantic Interstate Transmission LLC (MAIT), Metropolitan Edison Co. (MetEd), Monongahela Power Co. (MonPower), Ohio Edison Co. (OE), Potomac Edison Co. (PE), Pennsylvania Electric Co. (Penelec), Pennsylvania Power Co. (Penn Power), Toledo Edison Co. (TE), Trans-Allegheny Interstate Line Co. (TrAIL), and West Penn Power Co. (WPP). At the same time, we affirmed our '##' ICRs at FE and FirstEnergy Transmission LLC (FET). The ratings on FE and its subsidiaries remain on CreditWatch with positive implications, reflecting the probability that we could raise the rating by one or more notches in the coming months if the company identifies its long-term funding for potential penalties and fines or it resolves the remaining...

  
Report Type:

Bulletin

Ticker
FE
Issuer
FirstEnergy Corp.
GICS
Electric Utilities (55101010)
Sector
Global Issuers , Structured Finance
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Credit FAQ: FirstEnergy Corp. And Subsidiaries' Credit Quality Improves As It Works To Resolve Legal Issues" Nov 04, 2021. Alacra Store. May 02, 2024. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Credit-FAQ-FirstEnergy-Corp-And-Subsidiaries-Credit-Quality-Improves-As-It-Works-To-Resolve-Legal-Issues-2750231>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Credit FAQ: FirstEnergy Corp. And Subsidiaries' Credit Quality Improves As It Works To Resolve Legal Issues Nov 04, 2021. New York, NY: Alacra Store. Retrieved May 02, 2024 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Credit-FAQ-FirstEnergy-Corp-And-Subsidiaries-Credit-Quality-Improves-As-It-Works-To-Resolve-Legal-Issues-2750231>
  
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