19-Jul-2024 10:06 HKT

Annual Review For Alabama Power Co.

S&P Global Ratings has performed annual reviews of the credit ratings of this issuer. When applicable, this review would include the review of the issuer’s subsidiaries or associated entities. In an annual review, S&P Global Ratings reviews current c...

03-May-2024 05:39 HKT

Southern Co. Upgraded To 'A-' On Commercial Operations Of Nuclear Power Plant; Various Actions Taken On Subsidiaries

On April 29, 2024, Southern Co. subsidiary, Georgia Power Co., announced that nuclear power plant, Vogtle Unit 4, reached commercial operations and has been placed in service. As a result, we raised our issuer credit rating (ICR) on Southern Co. and ...

03-Aug-2023 05:04 HKT

Southern Co. Outlook Revised To Positive From Stable As Nuclear Power Plant Begins Commercial Operations

On July 31, 2023, Southern Co. announced that its nuclear power plant, Vogtle Unit 3, has entered commercial operations. We assess this as supportive of credit quality, reducing Southern Co.'s construction and business risk. Accordingly, we affirmed ...

28-Oct-2021 06:46 HKT

Southern Co. And Subsidiaries Ratings Downgraded By One Notch; Outlook Stable

Southern Co. subsidiary Georgia Power Co. (GPC) announced a delayed in-service date for Units 3 and 4 for the Vogtle nuclear power generation construction projects. The company now expects the in-service dates for Vogtle Unit 3 to be pushed back to t...

01-Sep-2021 05:15 HKT

Southern Co. And Subsidiaries Issuer Credit Ratings Affirmed; Outlook Is Negative

The Nuclear Regulatory Commission's (NRC) special inspection report on Vogtle Unit 3 preliminarily identified two apparent violations, which do not represent an immediate safety concern and are being considered for escalated enforcement. Separately, ...

06-Aug-2020 21:53 HKT

Southern Co. And Subsidiaries Outlooks Remain Negative On Higher Nuclear Construction Costs; Ratings Affirmed

Atlanta-based Southern Co. announced its share of the Vogtle units 3 and 4 nuclear power construction project costs have increased by approximately $150 million. This follows a series of other related announcements by the company, including that it r...

12-Sep-2019 23:08 HKT

Alabama Power Co. And Nicor Gas Co. Ratings Raised On New Criteria; Georgia Power Co. Ratings Remains Unchanged; Off UCO

We have reviewed our ratings on Alabama Power Co., Nicor Gas Co., Georgia Power Co., and Southern Electric Generating Co., all of which were labeled as "under criteria observation" (UCO) after publishing our revised Group Ratings Methodology criteria...

06-Dec-2018 00:24 HKT

Credit Conditions: Global Conditions Are Tightening As Trade And Economic Worries Mount

Credit conditions are becoming more challenging for borrowers around the world, as trade tensions, increases in borrowing costs in some regions, and a historic stretch of economic expansion—particularly in the U.S.—shows signs of slowing. S&P Global ...

28-Sep-2018 22:10 HKT

Southern Co. And Subsidiaries Ratings Affirmed, Taken Off Watch Negative Following Vogtle Decision; Outlook Negative

Southern Co.'s subsidiary, Georgia Power Co. (GPC) announced that all co-owners of the Vogtle Nuclear generation facility, including GPC, have agreed to continue construction of Plant Vogtle Units 3 and 4. The decision to continue construction includ...

31-Aug-2018 04:53 HKT

Alabama Power Co. Ratings Remain On CreditWatch Negative

We expect a modest weakening of Alabama Power Co.'s financial measures, reflecting higher capital spending and regulatory lag on the company's key cost recovery mechanism. Our ratings on Alabama Power Co., including our 'A-' issuer credit rating, the...