S&P revises Ontario Power outlook to negative

S&P said it revised its outlook for Ontario Power Corp. to negative from stable, citing the effects of Ontario Power’s purchase of C$3 billion of power generation assets through issuing debt.

The agency noted the potential of a limited cushion in Ontario Power’s credit metrics and weak financial measures as the rationale for the outlook revision.

S&P affirmed Ontario Power’s BBB+ issuer credit and senior unsecured debt ratings.

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