S&P: Algonquin to positive

Standard & Poor's said it revised the outlook on Algonquin Power Co., an Ontario-based subsidiary of Algonquin Power and Utilities Co., to positive from stable.

The agency also said it affirmed its BBB- long-term corporate credit and senior unsecured debt ratings.

The outlook revision reflects an expectation that the company will be able to achieve consolidated adjusted and sustained funds supported by regulated cash flows from Liberty Utilities Co. in the medium term, S&P said.

The ratings also consider its strong consolidated business risk profile and significant consolidated financial risk profile at the parent company, the agency said.

The company's exposure to asset concentration risk mutes the benefits of portfolio diversity, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.