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| Prospect News home > News index > List of issuers A > Headlines for Aquarion Water Co. of Connecticut > News item |
S&P rates Aquarion BBB, notes BBB-
Standard & Poor's said it assigned its BBB long-term corporate credit ratings to Aquarion Co.
The outlook is stable.
At the same time, the agency assigned its BBB- issue-level rating to Aquarion's proposed $360 million senior unsecured notes.
The company intends to use the proceeds to repay its existing $345 million term loan at Aquarion Holdings LLC.
"We assess Aquarion's business risk profile as 'excellent,' which incorporates our 'very low' industry risk assessment of the regulated utility industry and a 'very low' country risk assessment based on the company's sole focus on U.S. operations and markets," S&P credit analyst Matthew O'Neill said in a news release.
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