Fitch rates Pinnacle West Capital Corp.'s sr. unsecured notes 'BBB'

Fitch Ratings has assigned a 'BBB' rating to Pinnacle West Capital Corp.'s senior unsecured notes, reflecting stable financial position and creditworthiness. The rating underscores Fitch’s assessment of the corporation’s ability to meet its debt obligations amid a consistent regulatory and operational environment. Pinnacle West, which operates through its subsidiary Arizona Public Service Company, continues to maintain a strong credit profile with a stable outlook. The 'BBB' rating indicates that the company is considered to have an acceptable level of credit risk, with moderate vulnerability to financial stress. Investors should note that this rating is subject to ongoing evaluation based on future performance and market conditions. The rating action is effective as of December 5, 2025.