Our 'BBB-' issuer credit rating (ICR) on West Penn Power Co. (WPP) reflects FirstEnergy Corp.'s group credit profile (GCP). The WPP 'a-' anchor is derived from: A country risk score we consider "very low" risk because all the utility's operations are in the U.S.; An industry risk score we consider "very low" risk, reflecting the low-risk nature of the regulated electric distribution business; A business risk profile we view as "excellent", partially reflecting the company's ability to manage regulatory risk in Pennsylvania; A financial risk profile we consider "significant", using the medial volatility table. WPP's 'a' stand-alone credit profile (SACP) is derived from: Our application of a favorable comparative ratings analysis, reflecting financial measures that we expect will be at
