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Fitch Affirms Westinghouse's IDR at 'B'; Outlook Stable - Fitch Ratings

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Fitch Ratings - New York - 12 May 2023: Fitch Ratings has affirmed Brookfield WEC Holdings Inc.'s and Brookfield WEC Holdings Sub-Aggregator LP's (WEC; operating under the name Westinghouse Electric Company) Long-Term Issuer Default Ratings (IDRs) at 'B'. The Rating Outlook has been revised to Stable from Positive. Fitch has also affirmed WEC's asset-based lending (ABL) facility at 'BB'/'RR1' and its senior secured revolving credit facility (RCF) and term loans at 'B+'/'RR3'.The rating reflects the company's market leading position in nuclear energy, technological capabilities, recurring demand-focused offering, solid pre-dividend free cash flow generation and financial flexibility. The rating is constrained by the company's financial leverage and end market concentration.

fitchratings.com     May 12, 2023