West Penn Power Co.

The stable outlook on WPP and on parent FirstEnergy Corp. (FE) reflects S&P Global Ratings' expectations that FE will continue to strategically focus on growing its regulated businesses. Furthermore, we expect FE's consolidated funds from operations (FFO) to debt will be about 11%-12%. We could lower the ratings on FE and its subsidiaries in the next two years if FE's consolidated FFO to debt weakens to consistently below 10%. This could occur if there is a significant and persistent lag in ongoing regulatory recovery of capital spending or operating expenses. We could raise the ratings on FE and its subsidiaries over the next two years if FE's consolidated FFO to debt improves to consistently above 12%. This could occur if

... of Pennsylvania supports the credit quality.West Penn Power Co.'s (WPP) low-risk electric operations are regulated by Pennsylvania Public Utility Commission. The regulatory framework is generally stable and transparent, which provides constructive regulatory mechanisms supporting cash flows of the utility. Outlook: Stable The stable outlook on WPP and on parent FirstEnergy Corp. (FE) reflects S&P Global Ratings' expectations that FE will continue to strategically focus on growing its regulated businesses. Furthermore, we expect FE's consolidated funds from operations (FFO) to debt will be about 11%-12%....

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