Recently, Tucson Electric Power Co. filed an 8-K in which it stated that it was discharging the mortgage indenture that had secured its credit facilities to date, leaving those facilities classified as unsecured debt. Consequently, we are lowering our rating on the company's credit facilities to 'BBB' from 'A-' to reflect the senior unsecured debt rating. We are affirming the 'BBB' corporate credit and senior unsecured debt ratings. NEW YORK (Standard&Poor's) Nov. 15, 2013--Standard&Poor's Ratings Services today lowered its rating on Tucson Electric Power Co.'s $200 million revolving credit facility and $186 million letter of credit facility to 'BBB' from 'A-', reflecting the release of the mortgage indenture on those facilities. We also affirmed the 'BBB'
