The rating on transmission and distribution (T&D) electric utility West Penn Power Co. (WPP) reflects the consolidated credit profile of Allegheny Energy. Incorporated in this, are the regulated cash flows of utility subsidiaries WPP, Potomac Edison Co., and Monongahela Power Co., and transmission subsidiary Trans-Allegheny Interstate Line Co. (TrAIL). In conjunction with these regulated cash flows is the higher business risk of unregulated generation subsidiary Allegheny Energy Supply Co. LLC (AE Supply). Allegheny's consolidated credit quality reflects a strong business risk profile and an aggressive financial risk profile. Greensburg, Pa.-based Allegheny has $4.5 billion of debt, including $460 million of securitized debt. Allegheny's strong business profile reflects a phased transition through higher capped prices to market rates in Pennsylvania during
