S&P shifts Ontario Power Generation view to stable

S&P said it revised the Ontario Power Generation Inc. outlook to stable from negative and affirmed the company’s BBB+ ratings.

“The company's recent refurbishment of the Darlington Nuclear Generating Station Unit 2 and our expectations that the company will temporarily pause its significant acquisition strategy increase our confidence that future cash flows will be less volatile. Also, for 2019 the company's financial measures exceeded our expectations, reflecting operational improvements and effective cost management. We expect these improvements will be sustained and lead to consistently improved financial performance,” S&P said in a press release.

S&P said it had expected FFO to debt of about 13%, but the revised base case forecasts FFO to debt of 14%-15%.

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