fixed-income
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


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 June 30, 2019 (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, 2019, PNW had $9.5 million of outstanding commerical paper and APS had $376.9 million of outstanding commercial paper. PNW also had $46M in outstanding short-term loan borrowings.

 

Maturity Profile ($MM)

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