Fitch: Public Service of New Hampshire bonds A-

Fitch Ratings said it assigned a rating of A- to Public Service Co. of New Hampshire's $160 million issuance of 3.2% first mortgage bonds, series R notes, due Sept. 1, 2021.

The proceeds will be used for capital expenditures and other general corporate purposes.

The new notes rank equally in right of payment with the company's existing senior secured obligations.

The outlook is stable.

The ratings are driven by the company's the low risk profile and stable cash flow metrics of its regulated transmission and distribution operations, Fitch said.

Commodity exposure at the company is moderate due to the ability of the utility to recover commodity costs, the agency said.

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