Fitch Ratings withdraws the ratings of PPL Corporation and its U.S. subsidiaries for business reasons. A complete list of ratings follows this press release.

For further information, please refer to the Fitch's press release 'Fitch Upgrades PPL Electric to 'BBB+'; PPL Corp's Outlook to Positive; Plans to Withdraw Ratings' dated Dec. 10, 2014.

Fitch withdraws the following ratings:

PPL Corporation

--Long-term Issuer Default Rating (IDR) at 'BBB';

--Short-term IDR at 'F2';

--Rating Outlook Positive.

PPL Capital Funding Inc.

--Senior unsecured debt at 'BBB';

--Junior subordinated notes at 'BB+';

--Rating Outlook Positive.

PPL Electric Utilities Corp.

--Long-term IDR 'BBB+';

--Secured debt at 'A';

--Short-term IDR at 'F2';

--Commercial paper at 'F2';

--Rating Outlook Stable.

LG&E and KU Energy LLC

--Long-term IDR at 'BBB+';

--Senior unsecured debt at 'BBB+';

--Short-term IDR at 'F2';

--Rating Outlook Stable.

Kentucky Utilities Company

--Long-term IDR at 'A-';

--Secured debt at 'A+';

--Secured pollution control bonds at 'A+/F2';

--Senior unsecured debt at 'A';

--Short-term IDR at 'F2';

--Commercial paper at 'F2';

--Rating Outlook Stable.

Louisville Gas and Electric Company

--Long-term IDR at 'A-';

--Secured debt 'A+';

--Secured pollution control bonds at 'A+/F2';

--Senior unsecured debt at 'A';

--Short-term IDR at 'F2';

--Commercial paper at 'F2';

--Rating Outlook Stable.

PPL Energy Supply, LLC.

--Long-term IDR at 'BB';

--Senior unsecured debt at 'BB';

--Short-term IDR at 'B';

--Commercial paper at 'B';

--Rating Watch Negative.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--'Corporate Rating Methodology' (May 28, 2014);

--'Recovery Ratings and Notching Criteria for Utilities' (Nov. 18, 2014);

--'Parent and Subsidiary Rating Linkage' (Aug. 5, 2013);

--'Rating U.S. Utilities, Power and Gas Companies' (March 11, 2014).

Applicable Criteria and Related Research:

Corporate Rating Methodology - Including Short-Term Ratings and Parent and Subsidiary Linkage

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=749393

Recovery Ratings and Notching Criteria for Utilities

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=813608

Parent and Subsidiary Rating Linkage Fitch's Approach to Rating Entities within a Corporate Group Structure

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=714476

Rating U.S. Utilities, Power and Gas Companies (Sector Credit Factors)

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=735155

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=966755

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