NEW YORK (S&P Global Ratings) November 2, 2026--S&P Global Ratings today assigned its'BBB'issue-level rating to Milwaukee-based WEC Energy Group Inc.'s (WEC) proposed fixed-to-fixed junior subordinated notes due August 4, 2057. The company intends to use the net proceeds from these notes for general corporate purposes, including to repay short-term debt. We classify the notes as hybrid securities with intermediate equity content (50%), which reflects the offering’s permanence, subordination, and loss absorption or cash conservation features. We will reclassify the notes as having no equity content beginning August 4, 2037, because the remaining period until maturity will be less than 20 years. The'BBB'rating, two notches below our'A-'long-term issuer credit rating on WEC, reflects the securities’
