Ohio Power Company, a wholly-owned subsidiary of American Electric Power Company (AEP), priced its $267.4 million utility receivables securitization deal called Ohio Phase-In-Recovery Funding LLC.

Moody’s Investors Service rated the deal. The A-1, ‘Aaa’-rated, 2.25 year notes priced at a spread of 40 basis points over Interpolated Swaps with a coupon rate of .958%.

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