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Rating Report

Monongahela Power Company; Allegheny Generating Company

Thu 07 Nov, 2024 - 2:57 PM ET

Monongahela Power Company’s (MP) and Allegheny Generating Company’s (AGC) IssuerDefault Ratings (IDRs) and Stable Outlook, reflect solid credit metrics and relatively low-risk regulated business models. The ratings consider rating linkages with the ultimate parent, FirstEnergy Corp. (FE, BBB/Stable). AGC is a wholly owned subsidiary of MP, which is an operating subsidiary of FE. AGC’s sole asset is an ownership interest of approximately 16% of the Bath County pumped hydro facility.