Debt ConcernsMoody's moved the outlook to negative for The Southern Company, highlighting that 30% of its debt sits at the holding company level.
Growth ComparisonThe company's growth trails that of high-growing southeastern peers, with a current EPS CAGR in line with the broader industry.
Operating ExpensesHigher operating expenses, including O&M, D&A, and interest expenses, are expected to offset some of the gains from higher rates and usage.