S&P affirms Ontario Power

Standard & Poor's said it affirmed the A- long-term corporate credit and A-1(low) Canada scale commercial-paper ratings on Ontario Power Generation Inc.

The outlook is stable.

The ratings were affirmed despite the outlook revision on the utility's owner, the Province of Ontario, to negative from stable, S&P said.

There still is a high likelihood that the province would provide extraordinary support in the event of financial distress, the agency said.

The ratings reflect the regulatory oversight of the company's base load nuclear and hydroelectric assets and its diverse generation portfolio, S&P said.

Weak cash flow metrics and operational and nuclear technology risk offset these credit strengths, the agency 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.