MAAT INDEX

CLAIM #54010 · Southern Company (SO) · 2023Q1 earnings call · Apr 27, 2023 · due Mar 31, 2024

And what I've continued to articulate as an objective to have all of our regulated utilities in the A category and our parent company at BBB+. And I think we can achieve that without having to do anything but execute.

Dan Tucker · CFO

PENDING
graded after results covering Mar 31, 2024 are reported

In context

at the rating agencies have different metrics they target? And then ultimately, what does that translate to in terms of target FFO for you guys? And the time line they're in, right, as you look at this in service? Daniel Tucker : Yes, Julien, it's Dan. So look, with -- once Unit 3 and 4 is in service, reflected in rates from a cash flow perspective, and we've talked about this before, it's about a $700 million improvement in our operating cash flow and thus improvement in FFO from an FFO to debt perspective, what that means is given the rest of our business, combined with that improvement, we should be comfortably in a let's just call it, 7-ish zone from an FFO to debt. It could be as high as 18 in years, could be in the high 16s, but comfortably above certainly current rating thresholds. And what I've continued to articulate as an objective to have all of our regulated utilities in the A category and our parent company at BBB+. And I think we can achieve that without having to do anything but execute. Julien Dumoulin-Smith : Right. But that a further improvement in terms of the underlying metrics per se? Daniel Tucker : Absolutely. Julien Dumoulin-Smith : Okay. And then, sorry, if I can pivot 1 more subject here. Just to touch on Georgia and Georgia Power, specifically around solar opportunities. I know that IRA has unlocked certain opportunities. I know that this isn't in flight in the process of maybe not necessarily right. But prospects for investing on that front. Obviously, you've had the Southern Power placeholder, but I'm focused more specifically on solar at Georgia Power and/or any of the other opcos today post IRA. And given the RFP? Christopher Womack : Yes. And Julien, as you know, we have opportunity as a result of the 2022 integrated resource plan, but also with the, infl

Verify independently

SEC filings for SO · Claim quote is verbatim from the 2023Q1 earnings call.