Moody’s upgrades Aquarion

Moody's Investors Service said it upgraded Aquarion Co.’s issuer and senior unsecured ratings to Baa2 from Baa3 and Aquarion Water Co. of Connecticut’s issuer and senior unsecured rating to A3 from Baa1.

The outlooks are stable.

"Aquarion now benefits from being a part of Eversource Energy, a large and financially strong low-risk regulated utility holding company, after their acquisition in December 2017," Moody’s vice president, senior credit officer Jeff Cassella said in a news release.

The action also recognizes Aquarion Water Co. of Connecticut’s historically strong financial metrics that, while now moderating, are supportive of the A3 rating when considered in light of the cash flow predictability that stems from the authorized recovery mechanisms, the agency explained.

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