S&P: PSE&G group to positive

Standard & Poor's said it revised the outlook on PSEG, PSE&G and PSEG Power to positive from stable.

The outlook revision reflects the improving business risk profile that, if sustained, could result in higher ratings for the companies, S&P said.

The agency also affirmed the companies' BBB+ corporate credit ratings.

The positive outlook is based on expectations that the company will continue to disproportionately grow the regulated part of its business over the merchant power operations, which could lead to an overall improvement of their already strong business risk profile, said Richard Cortright, an S&P analyst.

The positive outlook reflects the steadily increasing influence of the low-risk rate-regulated utility subsidiary, PSE&G, on the group's consolidated credit, Cortright said in a press release.

© 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.