S&P: Portland General view negative

Standard & Poor's said it revised the outlook on Portland General Electric to stable from negative and affirmed its BBB+ rating.

The outlook revision reflects expectation that the company's favorable regulatory mechanisms will provide the rate relief necessary to support its sizable capital program, the agency said.

The revision also reflects that while the recovery of costs associated with the now-closed Trojan nuclear plant poses risks to the credit profile of the company, it is uncertain whether it will ultimately be required to provide a sizable customer refund or over what time period such a rebate would occur, S&P said.

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