| 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 June 30, 2020 (dollars in millions):
| Credit Facility |
Expiration |
Amount
Committed |
Unused
Amount |
Commitment
Fees |
| Pinnacle West Revolving Credit Facility |
July 2023 |
$200 |
$200 |
0.125% |
APS Revolving
Credit Facility |
June 2022 |
500 |
500 |
0.100% |
APS Revolving
Credit Facility |
July 2023 |
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.
On June 30, 2020, APS had $169M in outstanding commerical paper borrowings. PNW had $37M in outstanding commerical paper borrowings and $27M in outstanding short-term loan borrowings.
Maturity Profile ($MM)
