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Action items: Southern Co., Georgia Power, PG&E face downgrades

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Action items: Southern Co., Georgia Power, PG&E face downgrades

S&P Global Market Intelligence presents a periodic rundown of selected ratings actions on U.S. energy companies. The changes, confined to upgrades, downgrades and changes in outlook, are listed by announcement date in reverse chronological order.

Feb. 28

* Fitch Ratings downgraded Southern Co. and Georgia Power Co., citing risks related to the construction of the Vogtle 3 and 4 nuclear reactors and weaker credit metrics.

Feb. 27

* Fitch Ratings took Citgo Holding Inc., rated one notch above default, off Rating Watch Negative after the Venezuelan state-owned company successfully refinanced a term loan.

Feb. 22

* S&P Global Ratings downgraded PG&E Corp. and subsidiary Pacific Gas and Electric Co.'s issuer credit ratings to BBB+ from A- over the risk posed by last year's wildfires at its Northern California service territory.

Feb. 21

* S&P Global Ratings placed EQT Corp.'s corporate credit and senior unsecured debt ratings on CreditWatch with negative implications in light of the company's plan to spin off its midstream businesses and become a pure shale gas producer.