| Credit Ratings |
|
|
|
|
|
|
|
|
|
|
|
|
Moody's |
|
S&P |
| Pinnacle West Capital Corporation |
|
|
|
|
| Corporate Credit Rating |
|
|
A3 |
|
A- |
| Senior Unsecured Debt |
|
|
A3 |
|
BBB+ |
| Commercial Paper |
|
|
|
P-2 |
|
A-2 |
| Outlook |
|
|
|
Negative |
|
Stable |
| Arizona Public Service Company |
|
|
|
|
|
| Corporate Credit Rating |
|
|
A2 |
|
A- |
| Senior Unsecured Debt |
|
|
A2 |
|
A- |
| Commercial Paper |
|
|
|
P-1 |
|
A-2 |
| Outlook |
|
|
|
Negative |
|
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, 2020 (dollars in millions):
| Credit Facility |
Expiration |
Amount
Committed |
Unused
Amount |
Commitment
Fees |
| Pinnacle West Revolving Credit Facility |
July 2023 |
$200 |
$100 |
0.125% |
APS Revolving
Credit Facility |
June 2022 |
500 |
70 |
0.100% |
APS Revolving
Credit Facility |
July 2023 |
500 |
500 |
0.100% |
| Total |
|
$1,200 |
$670 |
|
Pinnacle West and APS maintain committed revolving credit facilities in order to enhance liquidity and provide credit support for their commercial paper programs.
On March 31, 2020, PNW and APS had no outstanding commerical paper borrowings. PNW had $33M in outstanding short-term loan borrowings.
Maturity Profile ($MM)
