Last Updated :
09 June 2009 at 04:30 IST
Wisconsin Energy falls on Fitch’s scale
Commodity Online Wisconsin Energy Corp. (NYSE:WEC) has announced that Fitch Ratings has assigned and affirmed it the ‘Negative’ rating. The same rating also stands for its subsidiaries viz. Wisconsin Energy Capital Corp. (WECC), Wisconsin Electric Power Co. (WEPCO) which are downgraded to ‘Negative’ from ‘Stable’.
Wisconsin Energy Corp. conducts its operations primarily in utility energy segment and a non-utility energy segment. WEC is the holding company for WEPCO and Wisconsin Gas LLC. (WI).
Receive $25 free with a Forex Micro account WI however managed to be rated ‘Stable’ wherein its positive rating symbolises its strong cash flows from regulated natural gas operations, modest leverage and a constructive regulatory environment.
WEC and WEPCO were rated ‘Negative’ as they are affected severely by impact of economic recession on the local economy and specifically the large commercial and industrial customers.
WEC lost 0.76% at New York Stock Exchange and closed at 40.39. It touched a 52-week high of 48.32 and low of 34.89.
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