Research Update: Alliant Energy Corp. And Subsidiaries Outlooks Revised To Stable From Negative; Ratings Affirmed

Alliant Energy Corp (AEC) recently announced a $225 million equity offering, structured with a forward contract that it expects to close by year-end 2020. We expect the company will use proceeds for capital spending, working capital, and to reduce debt. We believe this will result in improving financial measures that are consistently above our downgrade threshold of adjusted funds from operations (FFO) to debt of 15%. We are revising our outlook on AEC and its subsidiaries to stable from negative, and affirming our ratings on the company and its subsidiaries, including the 'A-' issuer credit ratings on AEC and Interstate Power&Light Co. (IP&L) and 'A' issuer credit rating on Wisconsin Power&Light Co. (WP&L). The stable

...- Alliant Energy Corp (AEC) recently announced a $225 million equity offering, structured with a forward contract that it expects to close by year-end 2020. - We expect the company will use proceeds for capital spending, working capital, and to reduce debt. We believe this will result in improving financial measures that are consistently above our downgrade threshold of adjusted funds from operations (FFO) to debt of 15%. - We are revising our outlook on AEC and its subsidiaries to stable from negative, and affirming our ratings on the company and its subsidiaries, including the 'A-' issuer credit ratings on AEC and Interstate Power & Light Co. (IP& L) and 'A' issuer credit rating on Wisconsin Power & Light Co. (WP&L). - The stable outlook on AEC and subsidiary IP&L reflects our base-case scenario of strengthening consolidated financial measures for AEC that we expect to continue over the next few years as the company executes on its elevated capital spending plan. Our base case reflects...

Research Update