Credit Ratings











Moody's
S&P
Pinnacle West Capital Corporation



Corporate Credit Rating

A3
A-
Commercial Paper


P-2
A-2
Outlook


Stable
Stable
Arizona Public Service Company




Corporate Credit Rating

A2
A-
Senior Unsecured Debt

A2
A-
Commercial Paper


P-1
A-2
Outlook


Stable
Stable

Lines of Credit and Short-Term Borrowings

The table below presents the consolidated credit facilities and the amounts available and outstanding as of March 31, 2018 (dollars in millions):

Credit Facility Expiration Amount
Committed
Unused
Amount
Commitment
Fees
Pinnacle West Revolving Credit Facility May 2021 $200 $200 0.125%
APS Revolving
Credit Facility
May 2021 500 500 0.100%
APS Revolving
Credit Facility
June 2022 500 500 0.100%
Total
$1,200 $1,200

Pinnacle West and APS maintain committed revolving credit facilities in order to enhance liquidity and provide credit support for their commercial paper programs. 

At March 31, 2018, PNW had $37.4 million of outstanding commercial paper. and APS had $255.5 million of outstanding commercial paper.

 

Maturity Profile ($MM)

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