Moody's turns Eversource view to negative

Moody's Investors Service said it changed the outlooks of Eversource Energy and the Connecticut Light and Power Co. to negative from stable.

"The negative outlook for Eversource reflects persistently weak credit metrics for its current Baa1 rating as a result of high capital spending and a reliance on debt financing that we expect will continue," said Jeff Cassella, a Moody’s vice president and senior credit officer, in a press release.

"Adding to this credit pressure is a more challenging regulatory environment for Connecticut Light & Power that will negatively impact the metrics and credit quality of Eversource's largest subsidiary," added Cassella.

Moody’s also affirmed Eversource’s Baa1 ratings and Connecticut Light & Power’s A3 rating.

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