NEW YORK, Jun 12, 2008 (BUSINESS WIRE) -- Fitch Ratings has assigned an 'A' rating to FPL Group Capital
Inc's (Group Capital) $250 million issuance of 5.35% debentures,
series due June 15, 2013 and $250 million floating rate debentures,
series due June 17, 2011. The Rating Outlook is Stable. Proceeds from
the issuance will be added to FPL Group Capital's general funds and
may be used to repay a portion of its short-term debt.

The debentures are unconditionally and irrevocably guaranteed by
parent company FPL Group, Inc. (FPL). FPL's Issuer Default Rating
(IDR) of 'A' is based upon its strong financial condition, ample
liquidity, and the strong business positions of its subsidiary Florida
Power & Light Co., the largest electric utility in Florida.

FPL Group Capital is a holding company for all of FPL's
non-regulated activities, the largest of which is its non-regulated
electric generation activities (FPL Energy). FPL Energy owns
generation across the spectrum of fuel types and is the largest
developer and owner of wind power in the U.S. FPL also owns a small
telecommunications subsidiary (FPL FiberNet) which leases wholesale
fiber-optic network capacity and dark fiber to FP&L and other
customers.

Fitch's rating definitions and the terms of use of such ratings
are available on the agency's public site, www.fitchratings.com.
Published ratings, criteria and methodologies are available from this
site, at all times. Fitch's code of conduct, confidentiality,
conflicts of interest, affiliate firewall, compliance and other
relevant policies and procedures are also available from the 'Code of
Conduct' section of this site.

SOURCE: Fitch Ratings

Fitch Ratings, New York
Robert Hornick, +1-212-908-0523
Ellen Lapson, +1-212-908-0504
Brian Bertsch, +1-212-908-0549 (Media Relations)

Copyright Business Wire 2008