Moody's cuts Ontario Power

Moody's Investors Service said it downgraded Ontario Power Authority's issuer rating to Aa2 from Aa1.

The baseline credit assessment was downgraded to 5 (A1), with high default dependence and high probability of extraordinary support from the Province of Ontario.

The outlook for the long-term rating is stable.

Moody's said that this action is being taken in conjunction with the downgrade of the Province's senior unsecured rating to Aa2 with a stable outlook from Aa1 with a negative outlook.

© 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.