NextEra Energy Inc. has been slowly shedding risk in its business operations by pursuing utility growth and managing the growth in its higher-risk, nonutility development activities. We are affirming our ratings on the energy holding company and subsidiaries Florida Power&Light and NextEra Energy Capital Holdings Inc., including the 'A-' issuer credit rating and the 'A-2' short-term rating. The outlook is stable. With the marginally decreasing business risk, we are revising our downgrade threshold to funds from operations (FFO) to debt consistently below 23%. The stable rating outlook incorporates our view of a gradually improving business risk profile and projections that consolidated financial measures will remain in the lower half of the range for its financial risk profile category.
